HD Hyundai wins major order for eight container ships worth USD 1.45 billion

According to HD Korea Shipbuilding & Offshore Engineering Co., the intermediate holding company of HD Hyundai's shipbuilding operations, the deal includes "eight 13,400-twenty-foot equivalent unit (TEU) container ships". Two of these vessels will be built at HD Hyundai Heavy Industries Co., and six at HD Hyundai Samho Co. Deliveries are planned sequentially through the first half of 2029.

This order pushes HD Hyundai's total container ship bookings this year to 720,000 TEU across 69 vessels, the highest since 2007, when it logged 793,473 TEU. The company's overall order value now stands at USD 16.22 billion from 116 vessels, achieving 89.9 per cent of its annual target of USD 18.05 billion.

The latest contract highlights the continuing strength of South Korea's shipbuilding industry, which has maintained its global competitiveness in large-scale vessel construction. While HD Hyundai leads in container ship performance, its industry peers are also showing strong momentum.

Samsung Heavy Industries Co. has surpassed its annual shipbuilding goal after landing another container ship deal worth about 2 trillion won (USD 1.36 billion) from an Asian shipowner. The company has now secured 39 vessels worth USD 6.9 billion this year, reaching 70 per cent of its total yearly target of USD 9.8 billion. In the shipbuilding segment alone, Samsung Heavy has booked 38 vessels valued at USD 6.1 billion, exceeding its specific annual target of USD 5.8 billion by 105 per cent.

Hanwha Ocean Co. has also maintained steady progress, with 32 vessels worth about USD 6.32 billion so far this year. Its portfolio includes 13 container ships, six liquefied natural gas (LNG) carriers, 12 very large crude carriers (VLCCs), and one icebreaking research vessel. The company reported a dock utilization rate of 101 per cent in the third quarter, indicating full capacity use. (ANI)