South Korea’s HD Hyundai is actively expanding its shipbuilding business to enhance competitiveness against Chinese firms. The company is acquiring Doosan Vina, a Vietnamese manufacturer of components such as tanks and cranes, for $207 million. This acquisition will bolster HD Korea Shipbuilding and Offshore Engineering’s capabilities in producing essential components for LNG plants and eco-friendly shipping.
Established in 2006 and located near Da Nang, Doosan Vina has a strong track record in manufacturing tanks, port cranes, and thermal power plant boilers. This move aligns with HD Hyundai’s strategy to address the growing demand for LNG-compatible tanks and sustainable shipping solutions.
In addition to the acquisition, HD Hyundai is expanding its shipbuilding capacity in Vietnam, where it has been operational since 1996. The company plans to increase its annual vessel production from 12 to 15, with a potential target of 23 by 2030. The Vietnamese yard has shifted its focus entirely to shipbuilding since 2011, delivering over 900 vessels, primarily product and chemical tankers.
Globally, HD Hyundai is reviving the former Hanjin shipbuilding site in the Philippines and exploring opportunities in Morocco, the U.S., and India, aiming to meet growing demand and counter competition from Chinese shipbuilders.
Share it now
Related posts:
German Humanoid Welding Robots to be Tested for Shipbuilding Amid Labor Shortage
Philippines: President Ferdinand Marcos Jr. Approves 10-Year Maritime Industry Development Plan 2028
World’s first ammonia dual-fuel Aframax tankers ordered by AET
World’s Largest LCO2 Carrier Launched at Ulsan Shipyard
