HD Hyundai Heavy wins 409.5 bln-won container ship order in Asia

SEOUL, Sept. 8 (Yonhap) — HD Hyundai Heavy Industries Co. has announced a significant contract worth 409.5 billion won (approximately $292 million) to construct two container carriers for an undisclosed Asian client. The vessels are expected to be delivered by February 2028, marking a strategic expansion for the company in the competitive shipping industry.

Growing Order Book and Corporate Restructuring

This latest order adds to HD Hyundai Heavy’s impressive portfolio, bringing its total orders for 2023 to $11.75 billion across 86 vessels. The company has now achieved 65.1 percent of its ambitious annual target of $18.05 billion, showcasing its robust performance in the shipbuilding sector. HD Hyundai Heavy is one of three key affiliates under HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE), which also includes HD Hyundai Samho Heavy Industries Co. and HD Hyundai Mipo Dockyard Co.

UMAS evolves to better serve the shipping sector’s decarbonisation needs

As part of a broader restructuring strategy, HD Hyundai Heavy and HD Hyundai Mipo are set to merge by December. This consolidation is expected to enhance operational efficiency and strengthen the company’s position in the global shipbuilding market. The merger reflects the ongoing efforts of South Korea’s largest shipbuilding group to adapt to changing industry dynamics and maintain competitiveness amid fluctuating demand.

The order for the two container carriers not only signifies a positive trend for HD Hyundai Heavy but also highlights the continuing demand for maritime logistics solutions in Asia. As global trade evolves, the company’s commitment to innovation and quality in shipbuilding remains crucial for its future success.