HD Hyundai, the intermediate holding company for shipbuilding of HD Korea Shipbuilding & Offshore Engineering [009540], announced on March 18 that it has recently signed a construction contract for three ammonia carriers (VLAC) with an Oceanian shipping company. The total order amount is 490 billion won.
The vessels ordered will be constructed at the Ulsan HD Hyundai Heavy Industries and are scheduled to be delivered to the shipowner by December 2027. Included this contract, HD Korea Shipbuilding & Offshore Engineering has so far secured a total of 72 vessels (including one marine facility), amounting to US$8.75 billion, achieving 64.8% of its annual target of US$13.5 billion.
The orders include six Liquefied Natural Gas carriers, 26 Petrochemical Product Carriers, 24 Liquefied Petroleum Gas and Ammonia Carriers, one Ethane Carrier, two Liquefied Carbon Dioxide Carriers, six Very Large Crude Carriers, three tankers, and two Pure Car and Truck Carriers.