HD Korea Shipbuilding & Offshore Engineering Co., the world's top shipyard, has already achieved nearly one-third of its yearly order target on brisk demand for green vessels, industry sources said Monday.

So far this year, the shipbuilder has clinched $4.65 billion worth of orders to construct 38 ships, or 34.4 percent of its yearly target of $13.5 billion, according to the sources.

In light of the faster-than-expected pace, HD Korea Shipbuilding, a subholding company of shipbuilding, oil refining and machinery conglomerate HD Hyundai, is widely expected to revise up its full-year target.

This year's yearly target is down from its goal of $15.7 billion for 2023. Last year, HD Korea Shipbuilding's actual orders totaled $22.32 billion.

HD Korea's Shipbuilding's stellar performance this year is attributed mainly to an increase in orders for eco-friendly vessels in line with tougher regulations on carbon emissions around the world.

In particular, there has been a sharp rise in orders for carriers of ammonia, which is efficient in transporting hydrogen and has also been gaining growing attention as a future energy source, market watchers said.

HD Korea Shipbuilding has bagged orders to build 74 liquefied petroleum gas and ammonia carriers with a capacity of 65,000-cubic meters or larger since 2021, or 56 percent of the global total at 131.

In January alone, HD Korea Shipbuilding garnered orders to build 11 ammonia carriers. The watchers said HD Korea Shipbuilding could get a boost from a slight rise in this year's global ship orders estimated at 43.10 million compensated gross tons. (Yonhap)