HD Korea Shipbuilding & Offshore Engineering, HD Hyundai’s intermediate shipbuilding holding company, secured a ₩515.4 billion contract, or approximately $373.6 million, from an Oceania-based shipping company for four LPG carriers. HD Hyundai Heavy Industries will build the vessels and deliver them by March 31, 2030. The contract equals 2.93% of HD Hyundai Heavy Industries’ recent revenue of ₩17.58 trillion. Including the order, HD Korea Shipbuilding has booked 162 vessels worth $18.08 billion, or approximately ₩24.97 trillion, reaching 77.6% of its $23.31 billion annual target. Rising U.S. LPG exports to Asia and Panama Canal restrictions linked to drought and El Niño are forcing longer voyages around the Cape of Good Hope, potentially supporting freight rates and further LPG carrier orders. HD Hyundai’s broader backlog and earnings have also reached record levels, although competition from Chinese and Singaporean shipyards, higher interest rates and stricter vessel-order reviews remain risks.