South Korea’s HD Hyundai Marine Engine has won a KRW 22.71bn ($16.5m) marine engine supply contract from Chinese shipbuilding company Xiamen XMXYG Shipbuilding Trading, according to an August 31 regulatory disclosure by HD Hyundai Marine Engine.
The contract has an exact value of KRW 22,712,250,000 and is equivalent to 5.6% of HD Hyundai Marine Engine’s 2025 consolidated revenue of KRW 402.40bn. The filing used an exchange rate of KRW 1,376.5 to the dollar, valuing the order at exactly $16.5m.
The supply period runs from 31 August 2026 to 20 July 2029. The completion date may change in line with the shipbuilding schedule at the customer’s yard.
Xiamen XMXYG Shipbuilding Trading is the contractual counterparty, while China’s XMXYG Shipbuilding & Offshore Engineering Co Ltd is the end-user shipyard. Payments will be made through advance, interim and final instalments in line with the engine delivery schedule.
The contract follows another marine engine order from Xiamen XMXYG Shipbuilding Trading disclosed on 31 July. That agreement was worth KRW 47.55bn ($34.5m at the same disclosed exchange-rate basis), equivalent to 11.8% of HD Hyundai Marine Engine’s 2025 revenue, with deliveries extending through August 2029.
HD Hyundai Marine Engine is a South Korean manufacturer of marine engines and related equipment headquartered in Changwon, South Gyeongsang Province. Established in December 1976, it became part of HD Hyundai Group in July 2024.
Xiamen XMXYG Shipbuilding Trading Co Ltd is the Chinese contracting entity for the engine order.
XMXYG Shipbuilding & Offshore Engineering Co Ltd is the Chinese shipbuilding company.