HD Hyundai has secured an order from HMM for eight liquefied natural gas (LNG) dual-fuel container ships valued at approximately 2 trillion won. As HMM accelerates its efforts to expand its eco-friendly fleet, HD Hyundai adds to its portfolio of high-value shipbuilding contracts.
On October 20, HD Korea Shipbuilding & Marine Engineering, the intermediate holding company of HD Hyundai, announced that it has signed a construction contract with HMM for eight 13,000 TEU LNG dual-fuel container ships. The total contract amount is approximately 1.9196 trillion won.
The newly ordered vessels will measure 337 meters in length, 51 meters in width, and 27.9 meters in height, equipped with dual-fuel engines capable of using both LNG and conventional ship fuel. The ships will be built in two and six units at HD Hyundai Heavy Industries in Ulsan and HD Hyundai Samho in Yeongam, respectively, with deliveries scheduled to occur sequentially by 2029.
Notably, these vessels will feature independent LNG fuel tanks produced at HD Hyundai's eco-friendly tank manufacturing facility, HD Hyundai Ecovina. By supplying not only the ships but also key components internally, HD Hyundai is strengthening its value chain in the eco-friendly ship sector.
This contract aligns with HMM's long-term investment strategy for 2030. Previously, HMM announced plans to invest 29 trillion won to expand its fleet by adding 166 container ships (with a capacity of 1.47 million TEU) and 110 bulk carriers (135.2 million DWT) by 2030.
HMM plans to deploy the eight 13,000 TEU container ships on the Far East-India-Mediterranean (FIM) route. The feeder vessels will be positioned in a network connecting hub ports and surrounding ports to enhance connectivity with long-haul routes.
In addition to the eight container ships ordered from HD Hyundai, HMM has secured four feeder vessels through resale, including three 2,800 TEU ships and one 1,700 TEU ship. The total investment for all 12 vessels amounts to approximately 2.1 trillion won.
Including this investment, HMM's total spending on fleet expansion and logistics infrastructure this year has surpassed 6 trillion won. Since CEO Choi Won-hyuk took office in March of last year, the cumulative investment has exceeded 12 trillion won.
An HMM official stated, "Investments in ships and ports in the shipping industry are characterized by a long-term perspective, taking place over several years. We plan to continue our long-term investments to secure the capabilities needed to compete with global shipping companies."
* This article has been translated by AI.
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