HD Korea Shipbuilding wins $1.2 bln order for 6 ammonia carriers
HD Korea Shipbuilding & Offshore Engineering said Thursday it has signed a contract with a European shipowner to build six very large ammonia carriers. The deal is worth 1.08 trillion won ($1.2 billion), the intermediate shipbuilding holding company of HD Hyundai said in a regulatory filing. The vessels will be built by HD Hyundai Samho and delivered by the second half of 2029. With the latest order, HD Korea Shipbuilding has secured orders for 104 ve
S. Korea pushes nuclear submarine plan, but fuel supply remains key hurdle
South Korea’s long-running ambition to deploy nuclear-powered submarines has gained fresh momentum as Seoul and Washington move to implement security agreements reached at their latest summit, though securing nuclear fuel remains the project’s biggest obstacle. The challenge facing the program is no longer simply whether South Korea can build or acquire nuclear-powered submarines, but how it would fuel them. According to data submitted by the Min
Seoul, Washington to launch working group to advance nuclear submarine deal
South Korea and the United States have agreed to launch a bilateral working group to implement security agreements reached at their summit last October, including Washington’s approval for Seoul to build nuclear-powered submarines. U.S. Under Secretary for Political Affairs Allison Hooker is set to visit Seoul within weeks to lead an interagency delegation for the talks. South Korea’s Foreign Ministry said First Vice Foreign Minister Park Yoon-jo
Seoul offers Canadians a real undersea ride in last stretch of submarine race
A South Korean flag-bearing submarine will surface at the Port of Victoria, off Canada's western coast, later this month after a two-month journey with Canadian crew members aboard — sailing from Jinhae in southern Korea in a symbolic outreach as Ottawa weighs Team Korea against Europe for a multibillion-dollar submarine contract. The bid to supply Canada with up to 12 next-generation submarines has narrowed to consortia led by Korea's Hanwha Ocea
HD Hyundai Heavy skips first KDDX bid, expected to join second round
HD Hyundai Heavy Industries did not participate in the first round of bidding for ships for South Korea’s next-generation destroyer project, but is expected to join the second round. According to the Defense Acquisition Program Administration and industry officials on Friday, HD Hyundai Heavy did not complete preliminary registration for the designated competitive bidding process for the Korean Destroyer Next Generation, or KDDX, by Thursday’s deadl
Seoul to unveil nuclear-powered submarine roadmap as early as this month
South Korea is expected to unveil a roadmap for its nuclear-powered submarine program as early as the end of this month, government sources said Friday. The move is seen as an attempt by Seoul to present its own timeline for the long-sought project, as follow-up talks with Washington have been slow. The Ministry of National Defense, which leads an interagency task force on the issue, is expected to announce the plan, though the exact timing has yet to be fin
HD Hyundai posts record quarterly profit on broad profitability gains
HD Hyundai posted its highest-ever quarterly operating profit, supported by broad growth across its shipbuilding, power equipment and energy businesses. The results have raised expectations that the group is on track to achieve its goal of reaching 100 trillion won ($67.2 billion) in annual sales by 2030, as its selective order strategy focused on eco-friendly vessels and growing demand for power infrastructure in North America begin to translate into stronger
HMM Q1 profit slumps 56% on Mideast war, tariffs
South Korea's largest container carrier HMM reported first-quarter operating profit tumbled 56 percent from a year earlier, hit by sliding freight rates on its core transpacific lanes, surging bunker fuel costs tied to the war in the Middle East and the lingering drag of U.S. tariffs. According to regulatory filings released Wednesday, operating profit fell to 269.1 billion won ($180.6 million) in the three months to March, from 613.9 billion won a year ear
South Korea loses ground in ship orders as China sweeps up new contracts
South Korea's share of global ship orders fell sharply in April despite a rebound in global ship orders, as China swept up a far larger portion of new contracts, according to data released by London-based Clarkson Research Services on Friday. Global ship orders for the month totaled 6.49 million compensated gross tons (CGT) or 204 vessels, up 21 percent from a year earlier. South Korea secured just 16 percent of global orders or 1.05 million CGT acros
Korean shipbuilders draw 6 orders for very large carriers amid Hormuz disruption
South Korea’s major shipbuilders secured more than 1 trillion won ($677 million) in fresh gas carrier orders as disruptions around the Strait of Hormuz drive longer shipping routes and accelerate demand for alternative-fuel transport vessels amid a reshaping global energy trade. HD Hyundai Heavy Industries said Monday it won a 504.8 billion won ($343 million) order from Korea-based KSS Line to build three very large gas carriers (VLGCs), according to a reg