HD KSOE enjoys ordering rush, nets $320mln contract for LPG carrier trio

South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) has been enjoying ordering rush these days with new deals signed for newbuild vessels, including three liquified petroleum gas (LPG) carriers.

LPG Carrier/Illustration; Image by KSOE

According to the company’s stock exchange filling, a KRW 416.2 billion ($320 million) contract was signed today for the construction of three new LPG carriers.

The company will build the ships for an undisclosed shipping company from Europe. HD Hyundai Heavy Industries Co., one of HD Korea Shipbuilding & Offshore Engineering’s three affiliates, is in charge of construction of these vessels.

HD KSOE added that the LPG carriers are slated for delivery by December 2026.

Since the beginning of this year, HD KSOE secured $14.39 billion worth of orders to build 109 vessels and a floating production unit, or 91.4 percent of its yearly order target of $15.74 billion.

Recently, the South Korean shipbuilder revealed orders worth billions of dollars for eight newbuild vessels and one floating production unit (FPU). The deals include three liquified natural gas (LNG) carriers, two liquified petroleum gas (LPG) carriers and four pure car and truck carriers (PCTCs).

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