Mystery European shipowner places $237 million order for ammonia carriers at HD KSOE

South Korean shipbuilding giant HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has booked a new order for the construction of two very large ammonia carriers (VLACs).

The shipbuilder revealed the order by an undisclosed European shipping company in a regulatory filing on July 3, 2024.

The contract is worth KRW 328.6 billion ($237.7 million). Hyundai Samho Heavy Industries, one of HD KSOE’s units, will build the two ammonia carriers.

The VLACs are scheduled for delivery by the end of September 2028.

HD KSOE recently also secured a $372 million contract with an unnamed shipping company from Oceania to build three VLACs by the end of December 2027.

Since the beginning of 2024, the Korean giant has booked orders for a total of 118 vessels worth $12.6 billion, which translates to 93.2% of its yearly target of $13.5 billion.

The order book includes VLACs, LPG carriers, ethane carriers, oil tankers, petrochemical carriers, and LNG carriers.

In 2023, HD KSOE signed contracts worth $22.6 billion, exceeding its annual order target of $15.7 billion.