Seoul: HD Hyundai Heavy Industries Co. has announced a substantial 1.5 trillion-won (US$1.04 billion) contract to construct four liquefied natural gas (LNG) carriers for an unnamed U.S.-based shipping company. The company revealed that these vessels are scheduled for delivery by the first half of 2029.

According to Yonhap News Agency, the new LNG carriers are designed with a capacity of 200,000 cubic meters, surpassing the conventional 175,000-cubic-meter carriers. These ships will feature power generation and reliquefaction systems aimed at enhancing fuel efficiency, thus accommodating larger cargo volumes.

HD Hyundai Heavy stated its strategic intention to pursue more high-value ship orders and advance its development of next-generation technologies to meet the increasing demand for environmentally friendly vessels. The company is a part of HD Korea Shipbuilding and Offshore Engineering Co. (HD KSOE), which also includes HD Hyundai Samho Heavy Industries Co. as one of its shipbuilding units.

HD KSOE has set an ambitious target to secure $23.31 billion in orders by 2026, marking a 28 percent increase from the $18.16 billion secured last year.