HD Korea Shipbuilding grabs $523 mn deal for 4 large carriers

[Photo provided by HD KSOE]

HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) has secured additional orders for the construction of very large crude carriers (VLCC).

The intermediate holding company for HD Hyundai Group’s shipbuilding operations announced on Tuesday that it has inked a 688 billion won ($534 million) contract with a European shipping company for the construction of four VLCCs.

The contract comes on the heels of securing orders for two VLCCs at the end of last month.

The vessels will be built at Hyundai Samho Heavy Industries Co. shipyard in Yeongam, South Jeolla Province. They are scheduled for delivery by December 2027.

With this contract, HD KSOE has secured orders for a total of 68 vessels and one offshore facility this year, amounting to $8.38 billion. The figure is 62 percent of its annual target of $13.5 billion in orders.