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HD Hyundai bags $1.4 bil. container ship order from HMM
A 13,000-TEU container ship built by HD Hyundai Heavy Industries which was delivered to HMM last year / Courtesy of HD Hyundai
By Ko Dong-hwan
HD Hyundai has clinched its most lucrative container ship construction order since 2007, signing a contract with global shipping company HMM to build eight vessels in a deal valued at 2.13 trillion won ($1.4 billion).
The engineering conglomerate said Monday that its intermediate holding company, Korea Shipbuilding & Offshore Engineering (KSOE), secured the order to construct eight 13,400 twenty-foot equivalent unit (TEU) container ships for HMM.
According to HD Hyundai, the new vessels will be equipped with dual-fuel engines running on liquefied natural gas (LNG) and with a fuel tank 50 percent larger than that of the company’s latest model. Each ship will measure 337 meters in length, 51 meters in width and 27.9 meters in height.
HD Hyundai Heavy Industries will build two ships and HD Hyundai Samho will build six, with all deliveries scheduled for completion by the first half of 2029.
The ships will also be fitted with HiNAS Control, an autonomous navigation system developed by Seoul-based Avikus that has been installed on the conglomerate’s vessels since 2023. The system, combined with RPM control technology, has been shown to cut carbon emissions by 15 percent and improve fuel efficiency by 15 percent, according to the company.
HD Hyundai has so far secured orders for 69 container ships this year, totaling 720,000 TEU — the highest since 2007, when it posted a record 793,000 TEU in annual sales.
In total, the conglomerate has won orders for 116 vessels of various types this year, worth a combined $16.2 billion. These include tankers for LNG, ammonia and ethane, LNG bunkering vessels and product carriers.
“Our ships’ technological competitiveness lies in eco-friendliness and high operational efficiency. We will continue to lead the nation’s carbon neutrality efforts in the shipbuilding and maritime logistics sectors,” an HD Hyundai official said.