HD Hyundai lands 2 trillion won 'jackpot' order from HMM for 8 eco-friendly container ships

[Financial News] HD Hyundai has won an order from HMM for eight liquefied natural gas (LNG) dual-fuel container ships worth about 2 trillion won. With this contract, HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HDKSOE), the group's intermediate holding company for shipbuilding, has achieved 86.6% of its annual order target.
HDKSOE announced on the 20th that it had signed a construction contract with HMM for eight 13,000-TEU-class container ships. The total contract value is 1.9196 trillion won. A TEU is equivalent to one 20-foot container.
Two ships will be built at HD Hyundai Heavy Industries in Ulsan and six at HD Hyundai Samho Co., Ltd. in Yeongam, South Jeolla Province, with deliveries scheduled in stages by the second half of 2029. The ships ordered this time measure 337 meters long, 51 meters wide and 27.9 meters high, and will be equipped with dual-fuel engines that can run on both LNG and conventional marine fuel.
HMM plans to expand its eco-friendly fleet through this order, while HD Hyundai aims to improve profitability by securing orders for high-value-added ships.
In particular, the ships will be fitted with independent LNG fuel tanks produced at HD Hyundai Eco Vina, HD Hyundai's eco-friendly independent tank manufacturing facility. The group will directly supply not only the ship designs and construction but also key equipment. This means it can expand the benefits of the order into its equipment business while responding to demand for eco-friendly ships.
Including this contract, HDKSOE has provisionally tallied its orders this year at 182 ships worth $20.19 billion. That is 86.6% of its annual order target of $23.31 billion.
By vessel type, the orders comprise 17 LNG carriers, 38 container ships, 57 LPG, ammonia and liquefied carbon dioxide carriers, 11 crude oil carriers, 53 petrochemical product carriers (PC vessels), two car carriers (PCTCs), two roll-on/roll-off (Ro-ro) vessels, and two other vessels, including icebreakers and FSRUs.
An HD Hyundai official said, "Inquiries about orders for LNG carriers, LPG carriers and container ships, among others, continue to come in, particularly from global shipping companies." The official added, "Building on our accumulated design and construction expertise and customer trust, we will expand orders for high-value-added eco-friendly ships and maximize profitability."
[email protected] Jeong Won-il Reporter