HD KSOE bags $238 million order for 2 ammonia carriers

A digital render of a very large ammonia carrier (VLAC) manufactured by HD Korea Shipbuilding & Offshore Engineering [HD KOREA SHIPBUILDING & OFFSHORE ENGINEERING]

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) secured a 328.6 billion-won ($237.7 million) order to build two very large ammonia carriers (VLAC) from a European shipper, the Korean shipyard said Thursday.

HD Hyundai Samho, one of HD KSOE's three shipbuilding units, will construct the VLACs at its shipyard in Yeongam, South Jeolla, the parent company said in a regulatory filing.

The vessels will be delivered to the undisclosed shipping company by September 2028, it added.

So far in 2024, the shipbuilder has obtained orders to construct 118 vessels worth $12.6 billion, or 93.2 percent of its yearly target of $13.5 billion.

Its orders include eight liquefied natural gas carriers, 52 petrochemical carriers, 38 carriers for ammonia and liquefied petroleum gas and six very large crude carriers.

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

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