South Korean shipbuilders HD Korea, which is part of the giant Hyundai company, has announced two new order contracts for two shipping companies outside of East Asia. 

HD Korea Shipbuilding & Offshore Engineering said the first contract covered two Very Large Gas Carriers (VLGCs) for a “shipping company based in [the] Middle East.” 

The VLGCs will be built by HD Hyundai Heavy Industries, most likely at its Ulsan shipyard. The company said it expected to deliver the ships to its client by June 2027. The deal is worth KRW 343bn ($248m). 

The multi-sector parent company Hyundai published details of a second contract on 8 July, again with its HD Korea Shipbuilding & Offshore Engineering brand. 

The shipbuilder will construct two Product/Chemical Carriers (PCs) for a different client, described as a “shipping company based in Oceania.” 

The speclalised tankers contract is worth KRW 149bn ($107m), but the construction will be undertaken by  HD Hyundai Mipo. Its shipyard is also in the South Korean shipbuilding centre of Ulsan on the country’s south east coast. 

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HD Korea said the four new ship orders have taken the annual orderbook to 122 ships (including 1 offshore unit), worth $12.95bn, “achieving 95.9% of the annual order target of $13.5bn.”

“By ship type, the company has received orders for 8 LNG carriers, 54 PCs, 40 LPG/ammonia carriers, 1 ethane carrier, 2 liquefied carbon dioxide carriers, 6 VLCCs, 3 tankers, 2 PCTCs, 1 FSRU, 1 offshore and 4 naval ships,” the shipbuilder added.