South Korean shipbuilding company HD Hyundai has won a 2.13 trillion won (about $1.5 billion) contract to build eight dual-fuel containerships for the South Korean carrier HMM. This is the largest order for containerships in the last 18 years, since the shipbuilding boom in 2007.
On Tuesday, HD Korea Shipbuilding & Offshore Engineering, which is part of HD Hyundai, confirmed the agreement for eight vessels. Each ship will have a capacity of 13,400 TEU, measure 337 meters in length, 51 meters in width, and 27.9 meters in height. They will feature LNG dual-fuel engines and fuel tanks that are about 50% larger than those typically used, which will enhance operational efficiency.
Among the newly ordered vessels, HD Hyundai Heavy Industries will build two, while HD Hyundai Samho will construct the other six. The deliveries are planned to start in the first half of 2029.
This order has increased HD Hyundai's backlog of containerships to its highest level since 2007, which was a peak year when cargo volume hit 793,473 TEU during a global economic upswing. So far this year, the company has received orders for 69 containerships totaling 720,000 TEU, making it the leader among domestic shipbuilders.
HD Hyundai's edge goes beyond just the cost of construction. The company claims it offers better lifetime economics, even if the initial prices are higher than those of its competitors. Since 2023, their ships have been equipped with HiNAS Control, an autonomous navigation system developed by Avicus. This system has been shown to reduce carbon emissions and improve fuel efficiency by 15%, using actual operational data.
A representative from HD Hyundai stated, "We are strengthening our position in the global market with unique technology and customer trust. We aim to lead the decarbonization of the shipbuilding and shipping sectors through our focus on eco-friendly and efficient ships."
This contract is a significant development as the maritime industry deals with growing demands to cut emissions while ensuring efficiency on longer routes.