HD Hyundai Heavy secures order to build LNG carrier duo

South Korean shipbuilder HD Hyundai Heavy Industries has won a contract to build two liquefied natural gas (LNG) carriers worth about $530 million.

HD Korea Shipbuilding & Offshore Engineering said on Tuesday that its unit HD Hyundai Heavy Industries will build the two 174,000-cbm LNG tankers for an owner in Africa.

Hyundai Heavy will deliver the vessels by February 2028.

The order has a price tag of 698.1 billion won ($530 million) or about $265 million per vessel, which is the highest price for a single 174,000-cbm LNG carrier for the shipbuilder.

KSOE did not reveal any additional information regarding the new order.

Hyundai Heavy won two LNG carriers from Greece’s Evalend Shipping in August, marking the latter’s entry into the LNG sector.

These vessels were also priced at about $530 million but the price in won (679 billion won) was lower.

Shipbuilding sources told LNG Prime that Evalend ordered these two new LNG carriers at Hyundai Heavy as well.

This year, KSOE and its units have received orders for a total of 147 ships worth $20.89 billion, including 39 LNG carriers.

The group has previously reached its annual target of $15.7 billion.

State-owned LNG giant QatarEnergy recently signed a deal for 17 LNG carriers with Hyundai Heavy as part of the second phase of its giant shipbuilding tender.

Hyundai Heavy will deliver these 299 meters long and 46.4 meters wide vessels sequentially by September 2029.