[Alpha Biz=(Chicago) Reporter Paul Lee] HD Korea Shipbuilding & Marine Engineering is cruising this year, exceeding its annual order target.

According to the shipbuilding industry on the 1st, HD Korea Shipbuilding & Marine Engineering has won a total of $ 20.19 billion in 143 ships so far, achieving 128.2% of its annual order target of $ 15.74 billion.

By ship, the company received orders for 37 petrochemical carriers, 29 container ships, 26 liquefied petroleum gas (LPG) and ammonia carriers, 37 liquefied natural gas (LNG) carriers, four automobile carriers (PCTCs), five tankers, two liquefied carbon dioxide carriers, two medium-sized gas carriers and one ocean.

HD Korea Shipbuilding & Marine Engineering recently won two orders for crude oil carriers from Oceania-based shipping companies. The total order amount is about 231.8 billion won. The ship will be built by Hyundai Samho Heavy Industries in Yeongam, South Jeolla Province, and will be delivered by March 2026.

HD Korea Shipbuilding & Marine Engineering signed a contract with Qatar's Energy Route last month to build 17 LNG carriers of 174,000 cubic meters. This is the largest amount ever won by a single contract in the Korean shipbuilding industry.

HD Korea Shipbuilding & Marine Engineering plans to focus on securing profitability based on solid order balances. HD Korea Shipbuilding & Marine Engineering posted sales of 5.11 trillion won and operating profit of 69 billion won in the third quarter of this year, marking the second consecutive quarter of surplus. Operating profit in the shipbuilding sector rose 56.3 percent from the previous quarter on the back of an increase in ship construction volume.

HD Korea Shipbuilding & Marine Engineering is expected to maintain a surplus for at least two years. This is because shipbuilders receive some advance payments from shipping companies and receive delivery payments after building ships.

 

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