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HD KSOE Secures $440 Million in New Shipbuilding Contracts

Orders include carriers for LPG and petrochemicals, marking significant progress towards annual revenue targets
South Korea
h 009540.KO Mid and Small Cap 2000
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South Korea’s leading shipbuilder, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), has successfully inked new contracts totaling 586.6 billion won ($440 million), signifying a substantial advancement in its global market presence. These contracts encompass the construction of two medium-sized liquefied petroleum gas carriers (LPGCs) ordered by a European shipping entity and four petrochemical carriers (PC ships) commissioned by an Oceania-based firm. The production of these vessels is slated for Hyundai Mipo Dockyard in Ulsan and Hyundai Vietnam Shipyard, with delivery deadlines set for December 2026 and June 2027 respectively.

This latest achievement contributes to HD KSOE’s impressive annual tally, where it has now secured contracts for 58 vessels worth $7.16 billion, thereby reaching 53% of its ambitious $13.5 billion goal for the year. The assorted order book includes a diverse range of vessels such as LPGCs, PC ships, LPG and ammonia carriers, an ethane carrier, liquefied carbon dioxide carriers, very large crude carriers (VLCCs), tankers, pure car and truck carriers (PCTCs), and an offshore facility. This robust portfolio underscores HD KSOE’s solidified stature and strategic expansion in the competitive shipbuilding industry, aligning with HD Hyundai Group’s overarching growth strategies in maritime engineering and manufacturing.

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