HD Korea Shipbuilding & Offshore Engineering Wins Order for 4 LNG Bunkering Ships Worth About 500 Billion KRW

Contract Signed with African Shipping Company
"We Will Lead the Eco-Friendly Ship Market"

HD Hyundai's intermediate holding company, HD Korea Shipbuilding & Offshore Engineering, announced that it has signed a construction contract for four 18,000㎥ liquefied natural gas (LNG) bunkering vessels with a shipping company based in Africa. The total contract value is 538.3 billion KRW.

Trial operation scene of the 18,000㎥ class LNG bunkering vessel built and delivered by HD Hyundai Mipo. Photo by HD Korea Shipbuilding & Offshore Engineering

On the 10th, HD Korea Shipbuilding & Offshore Engineering revealed that the vessels will be built at HD Hyundai Mipo Dockyard in Ulsan and sequentially delivered to the shipowner by the second half of 2028. The four LNG bunkering vessels ordered this time measure 143 meters in length, 25.2 meters in width, and 12.9 meters in height. LNG bunkering vessels are ships that supply LNG at sea using the 'Ship To Ship (STS)' method.

Due to the International Maritime Organization (IMO)'s strengthened environmental regulations, demand for LNG bunkering vessels is gradually increasing. The Korea LNG Bunkering Industry Association analyzed that the number of ships using LNG as fuel will rise from 472 vessels in 2023 to 1,174 vessels in 2033. This figure excludes LNG carriers that use boil-off gas from cargo as fuel.

Previously, HD Korea Shipbuilding & Offshore Engineering secured orders for two 18,000㎥ and one 12,500㎥ LNG bunkering vessels in September last year, followed by an order for four 18,000㎥ LNG bunkering vessels in November of the same year. A representative from HD Korea Shipbuilding & Offshore Engineering stated, "Based on HD Hyundai Mipo's world-leading technology in the medium-sized ship sector, we plan to lead the eco-friendly ship market, including LNG bunkering vessels and liquefied carbon dioxide carriers."