Korea Shipbuilding & Offshore Engineering Secures Orders for 7 Gas Carriers in One Week

Following the Order of 5 LNG Carriers
Additional Construction Contract for 2 Ultra-Large LPG Carriers

The sea trial of the LPG carrier built and delivered by Hyundai Heavy Industries last year. Photo by Korea Shipbuilding & Offshore Engineering

[Asia Economy Reporter Donghoon Jeong] Korea Shipbuilding & Offshore Engineering, the intermediate holding company of HD Hyundai's shipbuilding division, has achieved consecutive orders in the gas carrier market in the new year.

On the 20th, Korea Shipbuilding & Offshore Engineering announced that it recently signed a construction contract with a shipping company based in Africa for two ultra-large LPG (liquefied petroleum gas) carriers of 88,000㎥ class. The contract amount is approximately 240.8 billion KRW.

With this, Korea Shipbuilding & Offshore Engineering secured a total of seven gas carrier contracts within a week, following orders for three and two LNG (liquefied natural gas) carriers on the 16th and 18th, respectively, and adding two LPG carriers on the 19th.

The LPG carriers ordered this time measure 230m in length, 32.25m in width, and 23.85m in height. They will be built at Hyundai Heavy Industries in Ulsan and are scheduled to be delivered sequentially to the shipowners by the first half of 2026.

Notably, these vessels feature an ammonia cargo option, enabling them to transport ammonia, which is gaining attention as a next-generation eco-friendly energy source.

Clarkson Research, a shipbuilding and shipping market analysis firm, forecasted in its "Clarksons Forecast Club" report released in September last year that global LPG carrier orders would reach 54 vessels this year, up from 40 vessels last year.

Meanwhile, including this recent order, Korea Shipbuilding & Offshore Engineering has secured a total of eight vessels worth 1.53 billion USD (approximately 1.8837 trillion KRW) this year, consisting of five LNG carriers, two LPG carriers, and one PC vessel by ship type.

A representative from Korea Shipbuilding & Offshore Engineering stated, "Due to our extensive construction experience, customers have high trust in Korea Shipbuilding & Offshore Engineering's gas carriers," adding, "We will accelerate related technology development and lead the next-generation eco-friendly ship sector, including ammonia and carbon dioxide carriers."

This content was produced with the assistance of AI translation services.