HD KSOE seals $525.4 million deal to build oil tanker quartet

South Korean shipbuilding major HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has received a contract to build four oil tankers from an undisclosed shipping company in Europe.

Hyundai Samho Heavy Industries, one of HD KSOE’s three shipbuilding divisions, will build the vessels. The value of the contract is KRW 688 billion ($525.4 million).

The oil tankers are scheduled for delivery by mid-December 2027, HD KSOE revealed in its stock exchange filling.

Since the beginning of this year, the South Korean shipbuilder scored orders to build 69 vessels worth $8.38 billion. This represents 62 percent of its yearly target of $13.5 billion.

The contracts include the construction of six liquefied natural gas (LNG) carriers, 26 petrochemical carriers, 21 liquefied petroleum gas (LPG) and ammonia carriers, and six very large and ultra-large crude carriers.

• DHT Holdings behind order for four VLCCs at South Korean yards
• HD KSOE clinches $1.08 billion deal for LNG carrier quartet
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• HD KSOE bags $241 million order for two ammonia carriers