Seoul: HD Hyundai Heavy Industries Co. announced it has secured a 363.3 billion-won (US$256 million) order to construct two very large crude carriers (VLCCs) for the local shipping company HMM Co.

According to Yonhap News Agency, the two VLCCs are slated for delivery to HMM by November 2027, as stated in a regulatory filing by HD Hyundai Heavy Industries. The company is a key player in the shipbuilding industry and is one of three affiliates under HD Korea Shipbuilding and Offshore Engineering Co. (HD KSOE), which is a subsidiary of HD Hyundai. The other affiliates include HD Hyundai Mipo Dockyard Co. and HD Hyundai Samho Heavy Industries Co.

HD Korea Shipbuilding and Offshore Engineering Co. has achieved US$12.76 billion worth of orders in the current year, reaching 70.7 percent of its annual target of US$18.05 billion. This latest order from HMM contributes significantly to HD KSOE's efforts to meet its financial and strategic objectives for the year.