HD Hyundai Heavy Industries Co. said Monday it has won a ₩409.5 billion (US$292 million) order to build two container carriers for an Asia-based shipping company. The company said in a regulatory filing that the vessels will be delivered by February 2028, but did not disclose the client’s identity or the specifications of the ships.
The filing stated that the contract, signed on Sept. 5, represents 2.83 percent of HD Hyundai Heavy’s revenue for 2024.
Construction will be carried out at the company’s own yards.
With this order, HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) has accumulated US$11.75 billion worth of shipbuilding contracts so far this year, covering 86 vessels.
That amount corresponds to 65.1 percent of its 2025 target of US$18.05 billion. The orders include 52 containerships, 12 tankers, five LNG carriers, six LNG bunkering vessels, eight LPG and ammonia carriers, two ethane carriers and one petrochemical carrier.
The new deal comes after HD Hyundai Samho Heavy Industries Co., another affiliate of HD KSOE, won a ₩242.2 billion contract last week to build two crude oil carriers.
HD Hyundai Heavy Industries is one of three shipyards under HD KSOE, together with HD Hyundai Samho Heavy Industries and HD Hyundai Mipo Dockyard Co. HD KSOE is a subholding company of HD Hyundai, formerly known as Hyundai Heavy Industries Holdings.
As part of ongoing restructuring, HD Hyundai Heavy and HD Hyundai Mipo Dockyard are scheduled to merge in December 2025, subject to shareholder and regulatory approvals.
According to the announced terms, each common share of HD Hyundai Mipo will be converted into 0.4059146 shares of HD Hyundai Heavy. The group said the integration is aimed at pursuing a “broader market” and “stronger shipbuilding” through scale and synergy.
HD Hyundai Heavy Industries Co. is a South Korea-based shipbuilder established as a legal entity under Korean corporate law. It operates shipbuilding yards and is engaged in the construction of commercial vessels, offshore structures, and related industrial projects.