South Korea’s HD Korea Shipbuilding & Offshore Engineering has won a contract to build a very large gas carrier (VLGC) for a shipping company based in Europe.

The shipbuilding contract is worth KRW 175.8 billion ($121.4 million), the company said in an email statement on Friday.

The vessel will be built by HD Hyundai Samho, with delivery scheduled in the first half of 2028.

HD Korea Shipbuilding did not disclose the identity of the shipowner or provide technical details of the vessel, including its propulsion system.

Including this project, HD Korea Shipbuilding has secured five newbuild contracts so far this year, with a combined value of $1.16 billion. This corresponds to roughly 5% of its full-year order target of $23.31 billion.

To date, the orders consist of four LNG carriers and one LPG/ammonia carrier.