Seoul: HD Korea Shipbuilding and Offshore Engineering Co. (HD KSOE) announced that its affiliates have secured container ship orders valued at 2.13 trillion won (US$1.4 billion) from HMM, South Korea's leading shipping company. This substantial order highlights the ongoing demand for advanced maritime vessels in the shipping industry.

According to Yonhap News Agency, HD Hyundai Heavy Industries Co., a subsidiary of HD KSOE, was awarded a 534.6 billion-won contract to construct two container carriers for HMM, with a completion deadline set for July 14, 2028. In addition, HD Hyundai Samho Heavy Industries Co. secured a 1.6 trillion-won order to build six vessels, expected to be delivered by April 30, 2029. These contracts were detailed in separate regulatory filings made by HD KSOE.

HD KSOE operates as a subholding company under HD Hyundai Co., overseeing three shipbuilding affiliates, including HD Hyundai Mipo Dockyard Co. Notably, HD Hyundai Mipo is scheduled to merge with HD Hyundai Heavy next month, potentially enhancing operational efficiencies and consolidating shipbuilding capabilities.

HD KSOE has achieved vessel orders worth $16.22 billion so far this year, marking 89.9 percent of its annual target of $18.05 billion. Container ships constitute a significant portion of these orders, with 69 out of the 116 vessels ordered being container ships. The combined container capacity of the ordered vessels stands at 720,000 twenty-foot equivalent units (TEUs), representing the highest level in 18 years since 2007, when orders peaked at 793,473 TEUs.