South Korea’s shipbuilding sector is experiencing a significant uptick in container ship orders, primarily driven by HD Hyundai’s contract with HMM, valued at 2.13 trillion won (approximately USD 1.4 billion). This marks HD Hyundai’s largest container ship order since 2007, encompassing eight LNG dual-fuel vessels with a capacity of 13,400 TEUs. Each ship will measure 337 meters long, 51 meters wide, and 27.9 meters high, featuring advanced propulsion systems designed for enhanced fuel efficiency. The construction will take place at two facilities, with deliveries scheduled through mid-2029.
With this latest agreement, HD Hyundai has secured a total of 69 container ships for 2025, totaling a capacity of 720,000 TEUs. This figure is the second-highest annual total since 2007, when the company obtained orders for 102 ships. The overall order value has reached USD 16.22 billion from 116 vessels, achieving nearly 90% of its annual target. An official from HD Hyundai emphasized the company’s technological prowess and commitment to building environmentally friendly ships, reinforcing its global standing.
The surge in container ship orders is being referred to as a “container ship boom,” as these vessels are crucial for global trade. Previously, South Korean shipyards hesitated to build container ships due to lower profitability and competition from cheaper Chinese manufacturers. However, stricter environmental regulations and the necessity to replace aging ships have revitalized demand. Notably, Samsung Heavy Industries recently secured a contract for seven container ships worth about 2 trillion won, bringing its total orders this year to 39 vessels valued at USD 6.9 billion. Hanwha Ocean also reported strong performance, with 32 vessels ordered this year, reflecting robust activity across the industry.
