HD KSOE secures order for two VLEC

It signed a shipbuilding contract with an Asian shipping company for a total of $340 mn, the highest price for ethane carriers

HD KSOE secures order for two VLEC
Mi-Sun Kang 1
2023-11-17 17:01:22 misunny@hankyung.com
Shipping & Shipbuilding

HD Korea Shipbuilding & Offshore Engineering Co. (KSOE) announced on Friday it has recently signed a shipbuilding contract for two very large-scale ethane carriers (VLEC) with an Asian shipping company. The total amount is $340 million.

These VLECs are 230 meters in length, 36.5 meters in width, and 22.8 meters in height. They will be delivered to the shipowner by the first half of 2027 after being constructed by HD Hyundai Heavy Industries Co. in Ulsan, South Korea. 

Ethane carriers liquefy ethane, maintaining the cargo hold's temperature at a stable -94 degrees Celsius while transporting it. Similar to LNG carriers, these vessels require advanced shipbuilding technology and expertise, making them high-value ships. Notably, the ethane carriers contracted this time set a record for the highest ship price, with $170 million per vessel.

HD KSOE Korea won orders total of 71 gas carriers in the current year, including the latest order. The breakdown by vessel type includes 39 LNG carriers, 28 LPG and ammonia carriers, two liquefied carbon dioxide carriers, and two ethane carriers.

Write to Mi-Sun Kang at misunny@hankyung.com
#HD Korea Shipbuilding & Offshore Engineering #Hyundai Heavy Industries #ethane carriers #LNG carriers #ammonia carriers #liquefied carbon dioxide carriers

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