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HD Hyundai Heavy Industries Lands Second Major Shipbuilding Contract of the Year

HD Hyundai secures a $240.7 million contract for two ammonia carriers, following an earlier deal for LPG carriers, bolstering its 2027 delivery schedule
South Korea
h 329180.KO Mid and Small Cap 2000
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HD Hyundai Heavy Industries has made significant strides early this year, securing its second major shipbuilding contract. The company, a subsidiary of HD Korea Shipbuilding & Offshore Engineering under the HD Hyundai Group, announced on Monday that it has been commissioned to build two very large ammonia carriers (VLACs) for an Oceania-based shipper. The contract, valued at 317.3 billion won ($240.7 million), is a substantial addition to their portfolio, with the delivery of these ships scheduled by March 2027.

This new contract represents a continuation of HD Hyundai Heavy Industries’ strong start to the year. Earlier, on January 5, the company inked a deal to construct two 88,000-cubic-meter liquefied petroleum gas (LPG) carriers for a European-based shipper. This contract, worth 303.2 billion won ($230 million), also has a delivery timeline set for the first half of 2027.

HD Hyundai Heavy Industries’ back-to-back contract wins underscore its growing prominence in the global shipbuilding industry. These deals not only reflect the company’s capability to handle large-scale projects but also its versatility in constructing different types of vessels, from ammonia carriers to LPG carriers.

The company’s success in securing these contracts points to a positive outlook for its business operations and growth prospects. With these projects slated for delivery in 2027, HD Hyundai Heavy Industries is positioning itself as a key player in the shipbuilding sector, catering to diverse shipping needs on a global scale.

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