HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Tuesday it has received a 942.5 billion-won (US$716 million) deal to build 15 petrochemical product carriers for an Asian shipper, according to Yonhap.
The 15 product carriers will be built at the shipyard of Hyundai Mipo Dockyard Co. in Ulsan, 300 kilometers southeast of Seoul, for delivery by November 2026, HD KSOE said in a statement.
HD Hyundai, formerly known as Hyundai Heavy Industries Holdings, has HD KSOE as a subholding company under its wing.
HD KSOE has three affiliates -- HD Hyundai Heavy Industries, Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co.
With this latest order, the country's leading shipbuilder has achieved 8.8 percent, or $1.19 billion, out of its annual order target of $13.5 billion for the year, the statement said.
The company has set a conservative order target this year compared to its achievement last year because it has already secured ample ship orders for years to come.
For the whole of 2023, it obtained a total of ship orders worth $22.6 billion, far exceeding its annual order target of $15.7 billion.