Hyundai Mipo strikes order to build LPG carrier quartet

South Korean shipbuilding company Hyundai Mipo Dockyard, a part of HD Korea Shipbuilding & Offshore Engineering Co. (KSOE), has received a contract to build four liquefied petroleum gas (LPG) carriers.

Illustration; Credit: Hyundai Mipo Dockyard (HMD)

As informed, the company will build the vessels under KRW 367.4 billion ($276 million) deal. According to the firm’s stock exchange filling, the LPG carriers will be constructed for an undisclosed Asian shipowner.

The carriers are slated for delivery by the end of March 2026.

Hyundai Mipo Dockyard is one of HD Korea Shipbuilding & Offshore Engineering’s three affiliates. The contract comes on the back of a recent deal the company received also from an undisclosed Asian shipper.

Two weeks ago, the South Korean shipbuilder secured an order worth KRW 120.6 billion ($92.8 million) to construct two product carriers.

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As revealed by local media outlets, the company has cashed $7.98 billion worth of orders to build 68 ships so far this year.

This represents 50.7 percent of its yearly order target of $15.74 billion.