HD Hyundai bags $366 million ammonia carrier order

HD Korea Shipbuilding & Offshore Engineering secured a $366 million order to build three very large ammonia carriers for a Central and South American shipper, with delivery scheduled for June 2028.

A render of a very large ammonia carrier (VLAC) developed by HD Hyundai Heavy Industries [HD HYUNDAI]

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) bagged a 491.1 billion won ($366 million) order to build three very large ammonia carriers (VLACs) for an undisclosed shipper based in Central and South America, the shipyard said Monday.

HD Hyundai Heavy Industries, one of HD KSOE's three shipbuilding units, will construct the vessels at its shipyard in the southeastern port of Ulsan, the company said in a regulatory filing.

The ammonia carriers will be delivered to the undisclosed shipping company by June 2028.

HD Korea Shipbuilding has clinched orders to build 32 vessels worth $3 billion, or 22.2 percent of its yearly target of $13.5 billion, so far in 2024.

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, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]