South Korean shipbuilding giant HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) has received orders to build two very large ammonia carriers (VLAC) and two liquefied petroleum gas (LPG) carriers.
As disclosed, the company will build two ammonia carriers under a KRW 317 billion ($240 million) contract. The ships will be constructed at HD KSOE’s division HD Hyundai Heavy Industries Co.
According to the shipbuilder’s stock exchange filling, the vessels will be owned by a shipper from Oceania. They are scheduled for delivery by the end of March 2027.
In a separate statement, HD KSOE revealed a deal to build two LPG carriers for a shipowner from Europe. The value of the deal is KRW 303 billion ($230 million). The ships are slated for delivery by the end of June 2027, HD KSOE revealed in its stock exchange filling. They will also be constructed by HD Hyundai Heavy Industries.
In 2023, HD KSOE signed contracts worth $22.6 billion, exceeding its annual order target of $15.7 billion.
To remind, the shipbuilding company has recently joined forces with UK-based company Zodiac Maritime and classification society Lloyd’s Register (LR) in a joint development project for the research and development of nuclear-propelled ship designs. Power plant design and engineering company KEPCO E&C also joined the project.
Under the JDP, HD KSOE and KEPCO E&C will provide designs for future vessels and their reactors while LR will assess rule requirements for safe operation and regulatory compliance models.
The JDP partners will work to address the challenges involved with nuclear propulsion, such as applying existing terrestrial nuclear technology to ships. The project aims to enable Zodiac to evaluate ship specifications and voyage considerations around nuclear technology.