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HD KSOE Lands $1.08 Billion LNG Carrier Deal, Nears Half-Yearly Target

Securing a record-breaking contract, HD KSOE strengthens its position as the world's leading LNG carrier builder
South Korea
h 009540.KO Mid and Small Cap 2000
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South Korea’s leading shipbuilder, Hyundai KSOE (Korea Shipbuilding & Offshore Engineering Co. (HD KSOE), has confirmed a significant order for the construction of four liquefied natural gas (LNG) carriers for a client in Oceania at $1.08 billion, which takes it to nearly half of its annual order target. The new contract not only represents Hyundai Samho Heavy Industries Co. (Hyundai Samho), a company within the group, securing orders for six LNG carriers since the beginning of this year but also helps Hyundai KSOE to maintain its absolute dominance in the global LNG carrier market. The $270 million price tag per each of the 174,000-cu. m. carrier is yet another market record.

Hyundai Samho will deliver the state-of-the-art carriers, each with a 174,000-cu. m. capacity, to the noted shipping company sequentially in January 2028. Hyundai KSOE has bagged a total of six orders for LNG carriers just this year. It has secured orders for a total of 39 LNG carriers until a year ago and now is consistently increasing these orders every year.

Its moves take the Korean giant to $5.98 billion in the value of business garnered, 46 vessels strong, and 44.3 percent of its top line order target of $13.5 billion for the year. The company is engaged in the construction of a very broad range of products, indicative of its capabilities in diverse vessel types and its position as a builder leading the way in clean energy vessel construction.

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