HD Korea Shipbuilding wins $500 million order for ethane carriers

Pictured is a LPG carrier built by HD Hyundai Heavy Industries on a trial run in July. [YONHAP]

HD Korea Shipbuilding & Offshore Engineering won a $500 million order to build three large ethane carriers for an Oceanian shipper, according to the company on Friday.

HD Hyundai Heavy Industries, one of HD Korea Shipbuilding's three shipbuilding units, will construct the 98,000 cubic meter (3,457,570 cubic feet) vessels at its shipyard in the southeastern port of Ulsan, the company said in a regulatory filing.

The ethane carriers will be delivered to the undisclosed shipping company by the first half of 2027, it said.

The deal comes about one month after the shipbuilder clinched an order to construct two very large ethane carriers for an Asian shipper.

So far this year, HD Korea Shipbuilding has obtained orders to build 80 gas carriers, including 39 liquefied natural gas carriers.

In line with growing global demand, HD Korea Shipbuilding will redouble its efforts to take the lead in the world market for next-generation gas carriers by making the most of its ample construction experience and technological prowess, a company official said.

HD Korea Shipbuilding, a subholding company of shipbuilding, oil refining and machinery conglomerate HD Hyundai, has three domestic units under its wing, namely HD Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]