HD KSOE secures $357 million to build vessels for Middle Eastern, Australian shippers

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HD KSOE secures $357 million to build vessels for Middle Eastern, Australian shippers

Published: 08 Jul. 2024, 20:11 Updated: 09 Jul. 2024, 13:56

PARK EUN-JEE
park.eunjee@joongang.co.kr

A digitally created image of HD Korea Shipbuilding & Offshore Engineering [HD KOREA SHIPBUILDING & OFFSHORE ENGINEERING]

HD Korea Shipbuilding & Offshore Engineering, a major South Korean shipyard, said Monday it has secured a combined 492.5 billion won ($357.2 million) to build four vessels for Middle Eastern and Australian shippers.

HD Hyundai Heavy Industries, one of HD Korea Shipbuilding’s three shipbuilding units, will construct two very large gas carriers, scheduled to be delivered to an undisclosed shipping company in the Middle East by June 2027, HD Korea Shipbuilding said in a regulatory filing.

Additionally, HD Hyundai Mipo will build two product carriers for an unnamed Australian shipper, with delivery expected by March 2027.

So far this year, HD Korea Shipbuilding has obtained orders to construct 122 vessels worth $12.9 billion, or 95.9 percent of its yearly target of $13.5 billion.

HD Korea Shipbuilding, 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.

Yonhap