HD Korea Shipbuilding & Offshore Engineering Co. has announced a significant contract win worth approximately $179.2 million to construct two crude oil carriers for an African client. This deal marks another milestone in the company’s efforts to meet its ambitious annual order goals and further strengthens its presence in the global shipbuilding market.
Details of the Contract and Delivery Timeline
The contract, secured through HD Hyundai Samho Heavy Industries — one of HD Korea Shipbuilding’s key subsidiaries — involves the construction of two crude carriers scheduled for delivery by February 2027. While the African client remains unnamed, the agreement highlights growing demand from emerging markets, particularly in the energy transportation sector.
Progress Toward Annual Goals
With this deal, HD Korea Shipbuilding has now secured orders for 53 vessels worth a combined $6.49 billion in 2025, which constitutes nearly 36% of its annual target of $18.05 billion. This steady flow of contracts underscores the company’s competitiveness in the global shipbuilding arena, particularly in the high-value crude carrier segment.
Corporate Background and Market Position
HD Korea Shipbuilding operates as a subholding under HD Hyundai Co., formerly known as Hyundai Heavy Industries Holdings. Its shipbuilding capabilities are supported by three core affiliates: HD Hyundai Heavy Industries, HD Hyundai Mipo Dockyard, and HD Hyundai Samho Heavy Industries. Together, they form one of the world’s leading shipbuilding conglomerates, known for delivering technologically advanced and fuel-efficient vessels across various sectors.
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Source: YONHAP NEWS AGENCY
