On July 4, HD Korea Shipbuilding & Offshore Engineering (KSOE) announced the signing of a construction contract with a European shipping company for two Very Large Ammonia Carriers (VLACs). The total order value is $328.6 million, and the vessels will be constructed by HD Hyundai Samho, with delivery expected by September 2028.As an intermediate holding company of HD Hyundai, KSOE has successfully secured additional orders for these specialized vessels, bringing its total secured vessel count to 118, including one offshore facility, with a cumulative value of $12.59 billion. This latest achievement represents 93.2% of the company’s annual order target of $13.5 billion, underscoring strong performance amidst challenging economic conditions.

The company’s orders encompass a diverse range of vessel types to meet the global shipping industry's varied needs. These include eight Liquefied Natural Gas (LNG) carriers, 52 Petrochemical Product Carriers (PC), 38 LPG/Ammonia carriers, one Ethane carrier, two Liquefied Carbon Dioxide carriers, six Very Large Crude Carriers (VLCC), three tankers, two Pure Car and Truck Carriers (PCTC), one Floating Storage Regasification Unit (FSRU), one offshore facility, and four special-purpose vessels.The significance of securing orders for VLACs lies in the growing importance of ammonia as a cargo. Ammonia, a critical industrial chemical, is being explored as a potential future fuel due to its zero-carbon emissions when burned, aligning with the global shipping industry's push towards greener solutions to meet international environmental regulations.