Seoul: HD Korea Shipbuilding and Offshore Engineering Co. (KSOE) announced on Thursday that it has secured a significant contract valued at 1.78 trillion won (approximately US$1.18 billion) to construct six very large ammonia carriers (VLACs).
According to Yonhap News Agency, the agreement was signed with an undisclosed European client. The construction of the VLACs will be carried out by HD Hyundai Samho Co., a shipbuilding unit of HD KSOE, with a scheduled delivery by the latter half of 2029.
This new contract adds to HD KSOE's successful year, with deals totaling $12.54 billion for 104 ships, thus achieving 53.8 percent of its annual order target. The company's order backlog for the current year includes a diverse portfolio of vessels: 26 container ships, 16 liquefied natural gas carriers, 26 liquefied petroleum and ammonia carriers, and 26 petrochemical product carriers.