HD KSOE wins $570.7 mil. in orders to build LNG carrier, floating LNG terminal

A floating storage regasification unit (FSRU) built by HD Korea Shipbuilding & Offshore Engineering is seen in this undated photo. Courtesy of HD Korea Shipbuilding & Offshore Engineering

HD Korea Shipbuilding & Offshore Engineering (KSOE) said Wednesday it has secured 885 billion won ($570.7 million) worth of orders to build one gas carrier and one floating storage regasification unit (FSRU).

HD KSOE said the FSRU is valued at 492.8 billion won, while the liquefied natural gas (LNG) carrier comes in at 392.2 billion won.

An FSRU is a specialized vessel that stores LNG and regasifies it at sea before supplying the natural gas to onshore facilities.

The company said both vessels will be built by HD Hyundai Heavy Industries and delivered to their respective clients by the first half of 2029.

With the latest contracts, HD KSOE has secured orders worth $15.72 billion so far this year, achieving 67.4 percent of its annual order target.