HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate shipbuilding holding company of HD Hyundai, is maintaining a robust momentum in securing high-value vessel orders, raising expectations for an early achievement of its annual target. 

According to industry sources on September 22, HD KSOE recently announced that it has signed a construction contract with a European shipping company for two roll-on/roll-off (RoRo) vessels. The total order value amounts to 336.2 billion KRW (approximately $242 million). These specialized vessels, designed to transport wheeled cargo such as cars and trailers, will be built at HD Hyundai Heavy Industries’ Ulsan shipyard and are scheduled to be delivered to the client by the second half of 2029. 

With this latest contract, HD KSOE’s cumulative order intake for the year has reached $18.71 billion across 169 vessels, achieving 80.3% of its annual target of $23.31 billion. Notably, the company has surpassed last year's cumulative performance in just nine months. Compared to the same period last year—when the company achieved 75.5% of its target ($15.81 billion)—this year’s figures mark an 18.2% increase in monetary terms and a dramatic 79.8% surge in total vessel count (from 94 to 169 vessels). 

Market analysts point out that this qualitative and quantitative growth is driven by a strategic shift in the order mix. While low-margin, massive container ship orders have decreased—dropping from 59 to 30 units year-over-year—eco-friendly and high-value gas carriers have seen phenomenal growth. Orders for liquefied petroleum gas (LPG), ammonia, and liquefied carbon dioxide carriers jumped from 20 to 52 units, alongside stable additions of LNG carriers.

Furthermore, HD Hyundai Heavy Industries has been diversifying its high-value portfolio by successfully expanding into specialized maritime segments, such as securing domestic pioneering orders for overseas icebreakers. Industry experts attribute this success to the group's strict selective contracting strategy, focusing heavily on profitability rather than sheer volume. 

An official from HD Hyundai Heavy Industries stated, "While specific order volumes fluctuate depending on evolving client demands, we remain fully committed to our selective contracting policy centered around high-value-added vessels". Backed by strong global demand for eco-friendly propulsion ships and tight operational margins, HD Hyundai is well on track to fulfill its annual projection ahead of schedule.

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