South Korea's HD Hyundai Co., Ltd. (267250.KS) announced late Sunday that it has secured an order for ultra-large container ships worth around $1.456 billion from HMM.
HD Korea Shipbuilding & Offshore Engineering or HD KSOE, the intermediate holding company for HD Hyundai's shipbuilding business, has signed the shipbuilding contract for eight 13,400-TEU dual-fuel container ships.
In South Korea, HD Korea Shipbuilding shares were gaining around 3% to trade at 432,000.00 won.
The latest order is the largest container ship order volume for HD Hyundai in 18 years since the shipbuilding supercycle in 2007.
According to the firm, the vessels ordered are 337 meters in length, 51 meters in width, and 27.9 meters in height. They are equipped with LNG dual-fuel engines and a significantly enlarged fuel tank, expanded by around 50%, to boost operational efficiency.
Of the eight vessels, two will be built by HD Hyundai Heavy Industries or HHI, and six by HD Hyundai Samho. Deliveries are scheduled consecutively through the first half of 2029.
So far this year, HD KSOE has secured orders for a total of 720,000 TEU in container ships, or 69 vessels.
HD Hyundai representative said, "We are further solidifying our position in the global market based on advanced technological capabilities and customer trust. Going forward, we will continue to lead the decarbonization of the shipbuilding and shipping industries through technological competitiveness focused on eco-friendly and high-efficiency vessels."
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