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HD KSOE affiliates secure 1.97 trillion won in shipbuilding orders

Published: 08 Apr. 2026, 19:09

A liquefied natural gas bunkering vessel manufactured at HD Hyundai Mipo in 2024. [HD KOREA SHIPBUILDING & OFFSHORE ENGINEERING]

HD Korea Shipbuilding & Offshore Engineering (KSOE) said Wednesday its affiliates have secured shipbuilding orders worth a combined 1.97 trillion won ($1.3 billion) in multiple deals signed this month.

The orders involve the construction of value-added vessels for clients across Greece, Oceania, Asia and Africa, the company said in a press release.

Among the contracts, two liquefied natural gas (LNG) carriers will be built by HD Hyundai Samho Heavy Industries for 770.2 billion won, with delivery scheduled by 2029 to Sonangol Shipping Holding, an Angolan state-owned shipping firm, it said.

In separate deals, two additional LNG carriers and two liquefied petroleum gas (LPG) carriers will be built by HD Hyundai Samho Heavy Industries and HD Hyundai Heavy Industries, respectively, for a combined 590 billion won, with deliveries scheduled by 2029.

The shipbuilders are affiliates of HD KSOE, the intermediate holding company of Korean shipbuilding group HD Hyundai.

“Global demand for new vessels is rising, particularly for oil tankers, gas carriers and container ships, amid heightened geopolitical risks and elevated oil prices,” a company official said. “We will continue to focus on securing high-value orders to improve profitability.”

HD KSOE aims to win $23.31 billion worth of orders this year, compared to $18.16 billion secured in 2024. So far in 2026, it has secured orders for 68 vessels worth $7.25 billion, reaching 31.1 percent of its annual target.

Yonhap