HMD nets $174.3 million deal for product carrier quartet

South Korean shipbuilding company Hyundai Mipo Dockyard (HMD) has received a contract to build four midsize product carriers.

Hyundai Mipo Dockyard

As informed, the vessels will be built for an undisclosed shipowner from Africa. The contract is worth KRW 230.8 billion ($174.3 million), the company revealed in its stock exchange filing.

The product carriers are slated for delivery by April 2026.

So far this year, Hyundai Mipo has scored orders for 19 product carriers, according to local media reports.

The announcement comes on the back of the order received last month also from an unnamed African shipper. The firm signed a contract for the construction of four product tankers.

The units are slated for delivery in stages by the end of November 2025.

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The South Korean shipyard has also recently celebrated the launching ceremony of a new methanol-powered containership built for Danish shipping giant A.P. Moller Maersk.

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