HD Hyundai Heavy Industries Wins KRW 336.2 Billion Contract for Two Ro-Ro Vessels

[Financial News] HD Hyundai Heavy Industries has secured orders for two roll-on/roll-off (Ro-Ro) vessels worth a combined KRW 336.2 billion from a Europe-based shipowner.
HD Hyundai Heavy Industries announced on the 22nd that it had signed a construction contract for two Ro-Ro vessels with a Europe-based shipowner.
The contract is worth KRW 336.2 billion, equivalent to 1.91% of the company's consolidated revenue of KRW 17.5806 trillion last year. The contract period runs from the 21st through November 30, 2029.
Ro-Ro vessels are designed so that wheeled cargo, such as vehicles and trailers, can enter and exit the ship directly. Unlike standard container ships, they allow vehicles to be driven on and off under their own power, making them primarily used to transport cars, commercial vehicles, and heavy equipment.
A simple calculation puts the contract value at approximately KRW 168.1 billion per vessel. HD Hyundai Heavy Industries will receive the contract payment and advance payment, followed by additional payments based on construction progress.
HDKSOE, HD Hyundai's intermediate holding company for its shipbuilding business, has secured a total of 169 vessels worth $18.71 billion so far this year, including this contract. This represents 80.3% of its annual order target of $23.31 billion.
By vessel type, the orders comprise 17 LNG carriers, 30 container ships, 52 LPG, ammonia, and liquefied carbon dioxide carriers, 11 crude oil tankers, 53 product carriers (PC tankers), two pure car and truck carriers (PCTCs), two RORO vessels, and two vessels of other types, including icebreakers and FSRUs.
[email protected] Jeong Won-il Reporter