HD Korea Shipbuilding & Offshore Engineering (HD KSOE), a subsidiary of HD Hyundai, announced on May 7 that it has signed a contract with an Africa-based shipping company to construct two 157,000-ton crude oil carriers.
The total value of the contract is 251.1 billion South Korean won (approximately $185 million). The vessels will be built at HD Hyundai Samho's shipyard and are scheduled for sequential delivery by the first half of 2027.
With this contract, HD KSOE has secured orders totaling $6.49 billion for 53 vessels this year, achieving 35.9% of its annual order target of $18.05 billion.
The orders encompass various vessel types, including one liquefied natural gas (LNG) carrier, four LNG bunkering vessels, six liquefied petroleum gas (LPG) and ammonia carriers, two ethane carriers, 34 container ships, and six tankers.
A subholding company under HD Hyundai, HD KSOE oversees the group's shipbuilding operations. It manages three major shipbuilding subsidiaries: HD Hyundai Heavy Industries, HD Hyundai Samho Heavy Industries, and HD Hyundai Mipo Dockyard.
HD Hyundai is a South Korean conglomerate engaged in shipbuilding, heavy equipment, machinery, and the petroleum industry. It rebranded to HD Hyundai in 2022 to mark its 50th anniversary.
HD Hyundai Samho specializes in constructing various types of vessels, including crude oil carriers, LNG carriers, and container ships.