HD KSOE wins multiple contracts worth $2.1 billion for gas carriers

A 200,000-cubic meter liquefied natural gas (LNG) carrier built by HD Hyundai Heavy Industries [HD HYUNDAI]

HD Korea Shipbuilding & Offshore Engineering (KSOE) won 2.79 trillion won ($2.1 billion) worth of orders from multiple clients in Europe, Oceania and Asia to build 12 gas carriers.

HD KSOE said Tuesday that it signed the contracts with four shipping companies between April 26 and 28.

"We were able to win large-scale contracts for gas carriers with high profitability using our advanced technology and quality,” an HD KSOE official said.

The shipbuilding company has secured an order for two 200,000-cubic-meter liquefied natural gas (LNG) carriers from an Oceanian shipper, four 174,000-cubic-meter LNG carriers from an European shipper, and two 88,000-cubic-meter liquefied petroleum gas (LPG) carriers from an Asian shipper on April 28. The shipbuilding orders total 2.42 trillion won.

HD KSOE also signed a contract to build four 45,000-cubic-meter LPG carriers from an Asian shipowner on April 26 that is worth 367.4 billion won.

The 12 ships will be built by HD Hyundai Heavy Industries and Hyundai Samho Heavy Industries, and will be delivered sequentially starting from 2026.

One of the notable features of the carriers ordered in these contracts is the application of Hi-ERSN, an LNG reliquefaction system, and Hi-ALS, an air lubrication system — both developed by HD KSOE — into the 174,000-cbm LNG carrier.

Hi-ERSN is a system that fully liquefies evaporated gas generated within the LNG cargo hold, using only nitrogen as a refrigerant. This process is environmentally friendly and boosts energy efficiency by over 20 percent compared to existing systems, according to KSOE.

Hi-ALS supplies air to the surface of the vessel, reducing friction and lowering fuel consumption and carbon emissions, the company explained.

In addition, the 88,000-cubic-meter LPG carrier will be equipped with LPG dual-fuel propulsion engines. It will be able to transport ammonia, an environmentally friendly energy source.

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]