HD Hyundai wins order for two LNG carriers worth KRW 662.9 billion
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HD Korea Shipbuilding & Offshore Engineering announced it had signed a contract to build two LNG carriers (LNGC) for an African shipping company whose name was not disclosed. The total value of the deal amounts to KRW 662.9 billion. According to Hellenic Shipping News, delivery of the vessels is scheduled for the second half of 2030, while Baird Maritime and Ports News Russia report that delivery would take place in the second half of 2029, with a contractual deadline extending to October 31 of that year.
Contract details
The vessels will be built by HD Hyundai Heavy Industries at its Ulsan shipyard. Baird Maritime estimates the contract value at USD 494 million, while Ports News Russia puts it at USD 492 million, a figure equivalent to 3.77% of HD Hyundai Heavy Industries' consolidated revenue in 2025. Baird Maritime states that the contract was signed on November 6, while Ports News Russia notes that the regulatory filing for the deal was published on November 9.
2026 order book
With this new contract, HD Korea Shipbuilding & Offshore Engineering has secured orders for a total of 195 vessels so far in 2026, for an amount that Hellenic Shipping News places at USD 21.6 billion and that Baird Maritime and Ports News Russia calculate at USD 21.69 billion. That figure represents 93.1% of the company's provisional annual target, set at USD 23.31 billion. Within that order book, the group has accumulated 19 LNG carriers, 38 container ships, 62 vessels for the transport of LPG, ammonia and liquefied carbon dioxide, 59 product tankers and 11 crude oil tankers, in addition to car carriers, roll-on/roll-off vessels, an icebreaker and an FSRU unit.
Other recent orders
The agreement for the two LNGCs adds to another recent contract by the HD Hyundai group, signed on November 5 and announced on November 6, worth KRW 630.1 billion for four very large ammonia carriers, also ordered by an Africa-based shipping company, with deliveries scheduled for May 31, 2030. Baird Maritime also recalls that in October the group had contracted eight dual-fuel LNG container ships for the shipping line HMM.
