33 ships worth 22.8 billion yuan! This shipyard achieved its annual target of over 25% in the first month
On January 29th, HD Hyundai (formerly Hyundai Heavy Industries Group), a shipbuilding holding company in South Korea, announced that it had signed a construction contract with Asian shipowners for a super large ethane transport vessel (VLEC), with a total contract amount of approximately KRW 230 billion (approximately USD 172 million).
The ship will be built by HD Modern Heavy Industries located in Ulsan and is scheduled to be delivered by the end of March 2027.
In August 2018, Delos Shipping, a private investment company in the United States, ordered three 93000 cubic meter VLECs from HD Modern Heavy Industries. Afterwards, due to financial difficulties, Delos Shipping was unable to fulfill its obligations and was directly ordered by Zhejiang Satellite Petrochemical of China as the shipowner. This is also HD Modern Heavy Industry's first VLEC order, entering the VLEC construction market from then on.
Including the new ship signed this year, HD South Korea Shipbuilding Ocean has undertaken 33 marine equipment orders this year, with a total contract amount of 3.17 billion US dollars (approximately 22.79 billion yuan), completing approximately 25.4% of its annual order target of 13.5 billion US dollars. This includes 2 large LNG ships, 15 VLGC/VLAC ships, 15 finished oil tankers, and 1 VLEC.
This VLEC is the eighth new ship order undertaken by HD Korea Shipbuilding Ocean this year, and also the seventh batch of liquefied gas ship orders. On January 5th, HD South Korea Shipbuilding Ocean announced that it had signed a construction contract with European shipowners for two 88000 cubic meter VLGCs, with a total contract amount of 303.2 billion Korean won (approximately 2.31 US dollars). On January 8th, HD South Korea Shipbuilding Ocean announced that it had signed construction contracts for two VLACs with shipowners in Oceania, with a total contract amount of KRW 317.3 billion (approximately USD 241 million). On January 9th, HD South Korea Shipbuilding Ocean announced that it had signed a construction contract with Asian shipowners for 15 finished oil tankers, with a total contract amount of 942.5 billion Korean won (approximately 713 million US dollars). On January 9th, HD South Korea Shipbuilding Marine announced that it had signed construction contracts with Qatar's state-owned natural gas transportation company Nakilat for two 174000 cubic meter LNG transport ships and four 88000 cubic meter VLGC/VLAC, with a total contract amount of KRW 1258.8 billion (approximately USD 954 million). On January 15th, HD South Korea Shipbuilding Ocean announced that it had signed construction contracts for two VLGCs with Middle Eastern shipowners, with a total contract amount of approximately KRW 310.1 billion (approximately USD 235 million). On January 18th, HD South Korea Shipbuilding Ocean announced that it had signed construction contracts for two VLACs with shipowners in Oceania, with a total contract amount of approximately 333 billion Korean won (approximately 249 million US dollars). On January 22nd, HD South Korea Shipbuilding Ocean announced that it had signed construction contracts for three VLACs with shipowners in Central and South America, with a total contract amount of approximately KRW 491.1 billion (approximately USD 366 million).
So far, out of the 33 new ship orders undertaken by HD Korea Shipbuilding Ocean this year, 18 liquefied gas ships have been contracted, with a contract amount of approximately 2.452 billion US dollars (approximately 17.63 billion yuan), accounting for 77%.
