HD KSOE lands colossal $2.67 billion order for 12 containerships

South Korean shipbuilding giant HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has been awarded a contract to construct twelve containerships for an undisclosed shipowner.

The order is split between HD KSOE’s two subsidiaries, HD Hyundai Heavy Industries and HD Hyundai Samho. Each of them will build six boxships.

The order was placed by an unnamed shipping company from Europe. According to the firm’s stock exchange filling, the vessels will be delivered by June 2028.

The cumulative value of the contract is KRW 3.7 trillion ($2.67 billion).

To remind, at the beginning of this month, HD KSOE secured an order for the construction of two very large ammonia carriers (VLACs). Hyundai Samho Heavy Industries will build the vessels, which are slated for delivery by the end of September 2028.

Meanwhile, HD KSOE recently unveiled an integrated scrubber technology for ammonia-powered ships. According to the company, the integrated scrubber is an eco-friendly technology that absorbs emitted ammonia on two separate occasions, reducing emissions to nearly zero.

According to local news agencies, HD KSOE sealed deals to build 144 ships so far this year. The combined value of the vessels is  $16.2 billion. The South Korean shipbuilder already surpassed its annual target of $13.5 billion.

The deals include the construction of eight liquefied natural gas carriers, 60 petrochemical carriers, and 40 liquefied petroleum gas and ammonia carriers.

In 2023, HD KSOE signed contracts worth $22.6 billion, exceeding its annual order target of $15.7 billion.