en.Wedoany.com Reported - On May 14, HD Korea Shipbuilding & Offshore Engineering, the shipbuilding holding company of South Korea's HD Hyundai Group, announced it has signed a construction contract for two LNG carriers with a shipowner in the Oceania region.

These two LNG carriers will be built by HD Hyundai Heavy Industries in Ulsan and are scheduled for delivery before July 2029. The total contract value is KRW 743.9 billion (approximately USD 500 million, RMB 3.385 billion), equivalent to a unit price of USD 250 million per vessel. HD Korea Shipbuilding & Offshore Engineering did not disclose the shipowner's information, but according to International Ship Network, this order comes from Hayfin Capital Management.

For reference, data from Clarksons shows that the current price for a 174,000 cubic meter large LNG carrier is USD 248.5 million, a decrease of about 2.5% compared to USD 255 million in the same period last year.

This marks the second consecutive day that HD Korea Shipbuilding & Offshore Engineering has secured LNG carrier orders. On May 13, the company received a construction contract for two LNG carriers from BW LNG, the LNG transportation company under the BW Group. The total contract value is KRW 748.5 billion (approximately USD 503 million, RMB 3.413 billion), equivalent to a unit price of USD 253 million per vessel. These two LNG carriers will be built by HD Hyundai Samho in Yeongam County, South Jeolla Province, and are scheduled for delivery before July 2029.

From January to April this year, HD Korea Shipbuilding & Offshore Engineering has accumulated orders for 76 vessels worth USD 8.21 billion (approximately RMB 56.34 billion), achieving 35.2% of its annual order target of USD 23.31 billion.

Since entering May, the order intake momentum of HD Korea Shipbuilding & Offshore Engineering has noticeably accelerated. On May 4, the company announced the signing of a construction contract for three VLGCs with domestic shipowner KSS Line, with a total contract value of KRW 504.8 billion (approximately USD 343 million, RMB 2.325 billion). These three VLGCs will be built by HD Hyundai Heavy Industries and delivered before the end of December 2029.

On May 8, HD Korea Shipbuilding & Offshore Engineering further announced it had secured orders for eight new vessels, with a total contract value of KRW 2.1308 trillion (approximately USD 1.453 billion, RMB 9.888 billion). Among these, a construction contract for six 15,900 TEU ultra-large container ships was signed with Japan's Ocean Network Express (ONE), valued at KRW 1.7787 trillion (approximately USD 1.213 billion, RMB 8.253 billion); and a construction contract for two 90,000 cubic meter VLGCs was signed with Greek shipowner TMS Cardiff Gas, valued at KRW 352.1 billion (approximately USD 240 million, RMB 1.634 billion). All eight new vessels will be built at HD Hyundai Heavy Industries and are planned for completion and delivery before the end of December 2029.

As of now, HD Korea Shipbuilding & Offshore Engineering has secured orders for a total of 98 new vessels this year, worth USD 11.82 billion (approximately RMB 80.2 billion), achieving 50.7% of its annual order target of USD 23.31 billion. By vessel type, the orders include 16 LNG carriers, 26 container ships, 20 LPG/ammonia carriers (including 2 liquefied carbon dioxide carriers), 7 crude oil tankers, 26 product/chemical tankers, 2 pure car and truck carriers (PCTCs), and 1 specialized icebreaker.

This milestone of reaching 50% of the annual order target was achieved nearly a month earlier than last year. On June 13 last year, HD Korea Shipbuilding & Offshore Engineering signed a construction contract for two VLCCs with domestic shipowner Pan Ocean, with a total contract value of KRW 349 billion (approximately USD 254 million, RMB 1.825 billion), bringing the company's new ship orders since the beginning of last year to 67 vessels worth USD 9.004 billion, completing about 50% of the full-year order target of USD 18.05 billion.

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