HD KSOE secures $129M deal for LPG carrier pair

South Korean shipbuilding giant HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has secured an order for the construction of two liquified petroleum gas (LPG) carriers.

According to the company’s stock exchange filing, the two vessels will be built for an unnamed shipowner based in Asia.

The LPG carriers will be built by HD KSOE’s division Hyundai Mipo Dockyard. The price tag for the vessels is KRW 172.4 billion ($129 million). The LPG carriers are slated for delivery by the end of October 2026.

To remind, HD KSOE recently received an order to build two very large ammonia carriers (VLACs) for a shipping company based in Africa. To be built at HD Hyundai Heavy Industries shipyard in Ulsan, the vessels are planned to be delivered by February 26, 2027.

Since the beginning of this year, HD Korea Shipbuilding scored orders to build 42 vessels worth $4.9 billion. The vessels include VLACs, LPG carriers, ethane carriers, oil tankers, petrochemical carriers and LNG carriers.. This represents 36.3 percent of its yearly target of $13.5 billion.

Last year. with the three domestic units under its wing, HD Hyundai Heavy Industries Co., Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries Co., HD KSOE signed contracts worth $22.6 billion, exceeding its annual order target of $15.7 billion.