HD Hyundai Wins $1.42 Billion HMM Ship Order

A 13,000-TEU container ship built by HD Hyundai Heavy Industries. (Provided by HD Hyundai Heavy Industries)  HD Korea Shipbuilding & Offshore Engineering, HD Hyundai’s intermediate holding company for shipbuilding, said on Oct. 20 it signed a shipbuilding contract with HMM for eight 13,000-TEU LNG dual-fuel container ships. The total contract value amounts to 1.9196 trillion won ($1.42 billion). The vessels ordered are designed to measure 337 meters in length, 51 meters in width and 27.9 meters in height, and will be equipped with dual-fuel propulsion engines capable of using both LNG and conventional marine fuel. The ships will be built separately at HD Hyundai Heavy Industries’ Ulsan shipyard and HD Hyundai Samho’s Yeongam shipyard. Two vessels are scheduled to be built in Ulsan and six in Yeongam, with sequential delivery to the shipping company planned by 2029. In particular, the ships will be fitted with independent LNG fuel tanks produced by HD Hyundai EcoVina, HD Hyundai’s eco-friendly independent tank production base. Beyond ship construction, HD Hyundai is strengthening its value chain in the eco-friendly vessel segment by establishing a system to directly supply key equipment within the group. This is analyzed as a strategic move aimed at securing both technological completeness and profitability beyond simply winning orders. HMM, too, is expected to expand its eco-friendly fleet through the contract and enhance its ability to respond to global environmental regulations. An HD Hyundai official said, "Inquiries for orders for LNG and LPG carriers and container ships have continued, centered on global shipping companies," and stressed that the company will expand orders for high-value-added eco-friendly ships based on its accumulated design and construction capabilities and customer trust.