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First order in the the Year of the Loong! South Korea Shipbuilding Marine receives 2 more VLAC orders


On February 20th, HD Hyundai (formerly Hyundai Heavy Industries Group), a shipbuilding holding company in South Korea, announced that it had signed a construction contract with African shipowners for two ultra large liquid ammonia transport ships (VLAC), with a total contract amount of approximately 322.8 billion Korean won (approximately 241 million US dollars).

The two 91000 cubic meter VLACs signed this time will be built by Hyundai Heavy Industries located in Ulsan and are scheduled to be delivered before February 2027.

Although HD South Korea Shipbuilding Ocean did not disclose the shipowner information, according to foreign media reports, this order comes from Greek shipowner Evand Shipping. The company ordered up to 12 VLGCs, including 5 91000 cubic meters and 7 88000 cubic meters, in HD South Korea Shipbuilding Ocean from early 2021 to last year. However, this was the first time that VLACs were ordered.

Including the two new ship orders signed this year, HD Korea Shipbuilding Ocean has undertaken 40 ship and sea equipment orders this year, with a total contract amount of 4.77 billion US dollars (approximately 34.38 billion yuan), completing approximately 35.3% of its annual order target of 13.5 billion US dollars. This includes 2 large LNG ships, 17 VLGC/VLAC ships, 15 finished oil tankers, 1 VLEC ship, 2 crude oil transport ships, 2 LCO2 transport ships, and 1 offshore platform upper module.

It is worth mentioning that these two VLACs are the tenth new ship order undertaken by HD Korea Shipbuilding Marine this year, and also the ninth batch of liquefied gas ship orders. So far, among the 40 new ship orders undertaken by HD Korea Shipbuilding Ocean this year, 22 liquefied gas ships have been contracted, with a contract amount of approximately 2.847 billion US dollars (approximately 20.522 billion yuan), accounting for 60%.

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