On June 10, HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai Group’s shipbuilding business, announced that it has signed a contract with an Asian shipping company for the construction of eight 15,900 TEU liquefied natural gas (LNG) dual-fuel powered containerships with a total value of about KRW 2.4 trillion (about US$1.76 billion) and a single-vessel cost of about US$220 million.
According to the report, the containership, which has an overall length of 366 meters, a width of 51 meters and a height of 30.3 meters, is equipped with LNG dual-fuel engines and is capable of running on both LNG and conventional marine fuels. The new buildings will be built at HD Hyundai Heavy Industries Ulsan Shipyard and is scheduled to be delivered to the owner in batches in the second half of 2028.
It is worth noting that although HD KSOE did not disclose the shipowner information, according to industry sources, the order came from Ocean Network Express (ONE).
Not long ago, it was rumored that ONE was in talks with HD Hyundai Heavy Industries for 8+4 16,000 TEU LNG dual-fuel containerships, including options, in a newbuilding contract valued at about $2.64 billion.
Including the latest order, HD KSOE has received orders for 65 new vessels worth $8.75 billion this year, realizing about 48.5 % of its annual order target of $18.05 billion.
By vessel type, it includes 1 LNG carrier, 6 LNG bunkering vessels, 6 liquefied petroleum gas (LPG)/ammonia carriers, 2 ethane carriers, 44 containerships and 6 tankers.
Of the 44 containership received by HD KSOE this year, 26 of them, or about 60 %, are of LNG dual-fuel propulsion design.
HD KSOE related, “Orders for environmentally friendly dual-fuel vessels continue to be placed against the backdrop of increasing environmental regulations in the shipping industry. The company will lead the maritime industry in decarbonization based on differentiated eco-friendly ship technologies.”