- HD Hyundai Samho Co., Ltd. has signed a ₩651.9 billion ($469 million) contract with a British Virgin Islands-based shipowner to construct four container ships.
- The deal represents 9.31% of the company’s 2024 annual sales and will run from September 2025 to July 2028.
- Payments will be made progressively, including advance payments, as construction milestones are reached.
Contract Details and Value
HD Hyundai Samho Co., Ltd., a subsidiary of HD Hyundai Heavy Industries Holdings, announced that it has finalized a shipbuilding contract for four container ships with a shipowner registered in the British Virgin Islands.The contract is valued at ₩651.9 billion ($469 million), calculated using the exchange rate of USD 1 = ₩1,389.40 on the contract date. This figure accounts for 9.31% of HD Hyundai Samho’s annual sales of ₩7.0031 trillion ($5.04 billion) in the most recent financial year.
Construction Timeline and Payment Structure
The construction period for the vessels will span from September 12, 2025, to July 26, 2028. Payments will be structured in line with the progress of the builds, with advance payments also factored into the agreement. The designated supply and sales region for the contract is the British Virgin Islands.
Corporate Context
According to the disclosure, HD Hyundai Samho’s total assets represent 13.55% of the consolidated assets of HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HD KSOE) as of the end of 2024.HD Hyundai Samho is recognized as a major South Korean shipbuilding company specializing in commercial vessel construction. It operates under the umbrella of HD Hyundai Heavy Industries Holdings, while HD KSOE serves as the intermediate holding company overseeing shipbuilding and offshore engineering subsidiaries within the HD Hyundai group.
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Source: Portnews
