HD KSOE clinches $366 million deal to build three ammonia carriers

South Korean shipbuilding giant HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has secured an order for the construction of three very large ammonia carriers (VLACs).

As informed, the company will build the three vessels for an unnamed shipping company from Central and South America.

HD Hyundai Heavy Industries Co., one of HD Korea Shipbuilding’s three shipbuilding divisions, will build the ammonia carriers. The contract is valued at KRW 491.1 billion ($366 million).

The ships are slated for delivery by the end of June 2028, HD KSOE revealed in its stock exchange filling.

Since the beginning of this year, the South Korean shipbuilder scored orders to build 32 vessels worth $3 billion, or 22.2 percent of its yearly target of $13.5 billion.

Recently, HD KSOE bagged two deals, one for the construction of two VLACs and the other for the construction of two LPG carriers.

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In 2023, HD KSOE signed contracts worth $22.6 billion, exceeding its annual order target of $15.7 billion.