HD Korea Shipbuilding & Offshore Engineering Secures First Order of the Year Worth 1.5 Trillion Won... Wins Four LNG Carriers in the US

Contract Signed with Americas Shipping Company for Ultra-large LNG Carriers
Increased Cargo Capacity Enhances Transportation Efficiency and Economics
Focus on Securing Orders for Eco-friendly and High Value-added Vessels

HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for HD Hyundai's shipbuilding division, has secured its first shipbuilding order of the new year.

On January 6, HD Korea Shipbuilding & Offshore Engineering announced that it had recently signed a contract with a shipping company in the Americas to build four ultra-large liquefied natural gas (LNG) carriers. The total contract value amounts to 1.4993 trillion won. The vessels ordered are 200,000㎥-class LNG carriers, each measuring 294.8 meters in length, 48.9 meters in width, and 26.7 meters in height. They will be built at Ulsan HD Hyundai Heavy Industries and delivered sequentially to the shipowner by the first half of 2029.

A ultra-large liquefied natural gas (LNG) carrier built and delivered by HD Hyundai Heavy Industries in the past. HD Korea Shipbuilding & Offshore Engineering

These carriers are designed to increase cargo capacity compared to standard 174,000㎥-class LNG carriers, enabling reduced transportation costs per unit. They are also equipped with the latest specifications, such as high-efficiency shaft generators and LNG reliquefaction systems, to further enhance fuel efficiency and operational economics.

According to Clarkson Research, a UK-based shipbuilding and shipping analysis firm, global orders for LNG carriers are expected to remain relatively active this year, as new LNG projects continue to be developed and demand for replacing aging LNG carriers increases.

Additionally, HD Hyundai Heavy Industries recently delivered a 22,000㎥ liquefied carbon dioxide (LCO₂) carrier to the Greek shipping company Capital Clean Energy Carriers. Named 'ACTIVE,' this vessel is the first of four LCO₂ carriers ordered between 2023 and 2024 to be delivered.

HD Hyundai Heavy Industries recently delivered a 22,000㎥ liquefied carbon dioxide (LCO₂) carrier. HD Korea Shipbuilding & Offshore Engineering

This ship is equipped with three storage tanks capable of maintaining temperatures as low as minus 55°C, allowing it to transport not only liquefied carbon dioxide but also various liquefied gases such as LPG and ammonia. It features shore power supply systems and nitrogen oxide reduction devices, and incorporates ice-class design technology to ensure both environmental friendliness and navigational safety.

A representative from HD Korea Shipbuilding & Offshore Engineering stated, "We plan to enhance our technological competitiveness and continue securing orders for high value-added vessels in response to the expanding eco-friendly ship market."

Meanwhile, HD Korea Shipbuilding & Offshore Engineering announced through a regulatory filing that it has set its 2024 order target for the shipbuilding and offshore division at 23.31 billion US dollars (approximately 33.6 trillion won).