HD KSOE secures $1.8 bn in container ship orders

HD Korea Shipbuilding & Offshore Engineering Co. (KSOE) secured orders for 22 container ships worth a total of 2.54 trillion won ($1.8 billion) last week as global ocean carriers are turning to South Korean shipyards to avoid the heavy duties the US government may slap on Chinese ships.

The intermediary holding company of the world’s largest shipbuilder, HD Hyundai Heavy Industries Co., said in a regulatory filing on Monday that the container carriers range in size from 1800 twenty-foot equivalent unit (TEU) to 2800 TEU, 8400 TEU and 16000 TEU.

The orders were placed by shippers based in Oceania and Asia between April 23 and 27. They will be delivered sequentially by 2028.

Separately, Hanwha Ocean Co. on Monday announced a 371 billion won ($270 million) order it recently received from an Oceania-based shipowner to build two very large crude carriers (VLCCs). The vessels are scheduled for sequential delivery by July 2027. 

With the latest contract, Hanwha Ocean’s total orders for the year have reached 14 ships, including two liquefied natural gas (LNG) carriers, six ultra-large container ships and six VLCCs. The cumulative orders are worth around $3 billion.

Write to Yeonhee Kim at yhkim@hankyung.com