HD Hyundai Heavy Industries shares rose on April 22 after the company reported back-to-back large orders. According to the Korea Exchange, the stock was trading at 624,000 won as of 2:22 p.m., up about 8.33% from the previous session.
The company said it won a 514.8 billion won contract from the Swedish Maritime Administration to build one dedicated icebreaking vessel. The ship will be 126 meters long with a displacement of 15,000 tons, and will have PC4-class icebreaking capability and an electric propulsion system. Delivery is scheduled by 2029. The high-spec vessel can continuously break through about 1 to 1.2 meters of ice to secure shipping lanes and will be deployed in polar operations, including the Baltic Sea. The win was seen as demonstrating the company’s technical competitiveness in a market where Nordic shipbuilders have been strong.
The company also disclosed that it signed a 627.1 billion won contract the same day with U.S.-based Aperion Energy Group to supply engine generators. The deal is equivalent to 3.57% of revenue, with a contract period running through 2030. The equipment will be used for power plant construction projects in the United States, under milestone-based payments that include a 20% advance payment.
Market participants said the expanded order book across shipbuilding and energy equipment supports efforts to diversify the company’s business portfolio.
* This article has been translated by AI.
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