Seoul: HD Korea Shipbuilding and Offshore Engineering Co. (HD KSOE) announced that its affiliate has obtained a 367.2 billion-won (US$250 million) contract to build a liquefied natural gas (LNG) carrier for an Asian shipping company. The LNG carrier, being constructed by HD Hyundai Samho Heavy Industries Co., is scheduled for delivery by December 2028, as stated in a regulatory filing by the company.
According to Yonhap News Agency, HD KSOE operates as a subholding company under HD Hyundai Co., managing two shipbuilding affiliates, including HD Hyundai Heavy Industries Co. Recently, HD Hyundai Mipo Dockyard Co. was merged into HD Hyundai Heavy Industries, aiming to reach 37 trillion won in sales by 2035. This goal will be pursued by diversifying into new sectors, such as the U.S. defense market and special-purpose vessels like icebreakers.
For the year 2024, HD Hyundai Heavy Industries, along with the former HD Hyundai Mipo Dockyard, reported sales of 14.5 trillion won and 4.63 trillion won, respectively. To date, HD KSOE has secured $16.52 billion in vessel orders this year, reaching 91.5 percent of its annual target of $18.05 billion. The orders included 71 container ships out of a total of 117 vessels.