HD Korea Shipbuilding & Offshore Engineering (KSOE) has signed a 247.9-billion-won ($183.6 million) contract with a European shipping company to build two liquefied natural gas (LNG) bunkering vessels. These vessels will be constructed by HD Hyundai Mipo Dockyard and are slated for delivery by November 2027.
With this latest contract, HD KSOE has secured orders for 150 vessels this year, surpassing 125.7% of its annual target of $13.5 billion. The total value of contracts secured in 2023 now stands at $16.97 billion. The company’s order book includes a wide range of vessels, such as LNG carriers, petrochemical carriers, container ships, and liquefied petroleum gas carriers.
This latest deal underlines HD KSOE’s continued expansion in the LNG market, as the global demand for more environmentally friendly maritime solutions grows. While the company is making strides in meeting demand, competition in the shipbuilding industry remains fierce, especially in securing high-value contracts in the face of economic headwinds.
