HD KSOE nets $340 million deal for two ethane carriers

South Korean shipbuilding major HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has inked a contract for the construction of two very large ethane carriers (VLECs).

Photo: Illustration, Image by Samsung Heavy Industries

As informed, the company scored a deal to build two very large ethane carriers for an unnamed shipper from Asia.

One of HD KSOE’s shipbuilding units, HD Hyundai Heavy Industries Co., will build the ships at its shipyard. The value of the contract is KRW 444 billion ($340 million), according to the company’s stock exchange filing.

The vessels are slated for delivery by the end of May 2027, the shipbuilder revealed.

A few days ago, HD KSOE revealed it received an order to build two liquified natural gas (LNG) carriers for an undisclosed shipowner from Africa.

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Since the beginning of the year, HD KSOE has scored $21.23 billion worth of orders to build 148 vessels and a floating production unit. This represents 134.9 percent of its yearly order target of $15.74 billion.