HD KSOE Lands USD 430 Million Order for 4 Super-Large Ammonia Carriers
HD Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company for shipbuilding within HD Hyundai Group HD Hyundai, recently announced that it has signed a US$432.4 million contract with a European-based client for the construction of four super-large ammonia carriers.
The four vessels will be built at Hyundai Samho Heavy Industries in Yeongam, South Jeolla Province of Korea and delivered to the client in sequence by the end of the second half of 2027.
Including this order, HD KSOE has taken orders for 23 (61 percent) of the total 38 ultra-large LPG-ammonia carriers ordered globally this year.
Ammonia has come into the spotlight as a next-generation eco-friendly fuel that emits zero carbon dioxide when burned. Against this backdrop, demand for ammonia carriers is on the rise.
HD KSOE succeeded in developing the industry's first system to use ammonia as a fuel in 2021. At GasTech 2023 in September, HD KSOE acquired approval in principle for an ammonia dual-fuel propulsion system and an ammonia bunkering vessel, leading the shipbuilding market with advanced technology development.
Note: Article by Michael Herh (https://www.businesskorea.co.kr)