HD Hyundai and HMM shake hands on $1.46B LNG dual-fuel containership deal

South Korea’s HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai’s shipbuilding business, has inked a ‘major’ contract with compatriot maritime transport company HMM for eight 13,400 TEU dual-fuel boxships.

As disclosed, the order for the ultra-large container vessels, which was revealed on November 23, was signed under an agreement valued at a whopping $1.46 billion. Officials from HD Hyundai have called this deal its “largest container ship order volume in 18 years since the shipbuilding supercycle in 2007.”

Once completed, the vessels are to be delivered fitted with dual-fuel engines powered by liquefied natural gas (LNG) and an enlarged fuel tank (reportedly expanded by approximately 50%). This is expected to improve the ships’ operational efficiency.

As informed, of the eight vessels, two are to be constructed by HD Hyundai Heavy Industries (HHI) while HD Hyundai Samho will be in charge of the remaining six.

The units will boast an overall length of 337 meters, a width of 51 meters, and a height of 27.9 meters. Deliveries to HMM are planned to be done consecutively through the first half of 2029.

The new contract between the Seoul-headquartered shipping player and one of the nation’s biggest vessel construction companies builds on years of collaboration.

Just in mid-October this year, HMM had tapped HD Hyundai Heavy as well as another major shipbuilder, Hanwha Ocean, for the construction of twelve LNG dual-fuel containerships and two very large crude carriers (VLCCs). The deal was estimated to be worth KRW 4 trillion (about $2.9 billion).

The order is said to be part of HMM’s vision of purchasing around 70 green vessels by 2030 and—in doing so—establishing a carbon-neutral ecosystem across all transportation segments by 2045.

What is more, representatives from HMM have highlighted that the company has plans underway to set aside KRW 14.4 trillion to sustainable management initiatives, including low-carbon ships and green facilities.

On the other hand, HD KSOE has, thus far in 2025, clinched bookings for a total of 69 container vessels, representing around 720,000 TEUs. The company said this marks the “highest volume order among domestic shipbuilders.”

On November 20, HD Hyundai revealed that it had also become ‘the world’s first’ vessel construction player to build and deliver 5,000 ships, half a century since the company’s first-ever handover in 1974.