HD KSOE confirms $1.76B order for eco-friendly boxship octet

HD Korea Shipbuilding & Offshore Engineering (HD KSOE), part of HD Hyundai, has landed a ‘massive’ KRW 2.4 trillion (approximately $1.76 billion) contract to build eight eco-friendly containerships for an undisclosed owner based in Asia.

The vessels are reportedly due to join the fleet of Singapore-based Ocean Network Express (ONE). According to HD KSOE, the containerships will be constructed by HD Hyundai Heavy Industries (HD HHI) at the yard in Ulsan.

Once completed, the boxships are planned to be handed over in 2028.

At the end of May this year, Greek shipbroker Intermodal revealed that Ocean Network Express, which is a joint venture between Japan’s shipping companies Nippon Yusen Kabushiki Kaisha (NYK), Mitsui O.S.K. Lines (MOL) and Kawasaki Kisen Kaisha (K Line), had commissioned HD HHI for the construction of 8 + 4 16,000 TEU container vessels powered by liquefied natural gas (LNG).

At the time, the builder had not yet confirmed the deal. However, it was revealed that the Singaporean player would cash out around $220 million per newbuild. This booking came just three months after ONE marked a ‘milestone’, having welcomed in February 2025 its ‘first owned’ boxship—the methanol-ready ONE Sparkle.

Within the past year, HD Hyundai’s shipbuilding subsidiaries have received numerous orders for vessels from an array of segments, from gas carriers and containerships to tankers and bunkering vessels.

In terms of the container segment, in particular, HD KSOE secured a major order valued at $2.67 billion in July 2024 to build a dozen environmentally friendly units. The contract was split between two HD Hyundai arms: HD Hyundai Samho and HD HHI. As divulged, the ships are planned to be turned over by June 2028.

What is more, in January 2025, Marseille-headquartered maritime transportation heavyweight CMA CGM decided to enrich its fleet with twelve more units, having tapped HD HHI for this project. Representatives from HD KSOE shared at the time that these vessels would be delivered by the end of December 2028.

In addition to boxships, by the end of 2028, HD HHI is to send off at least two liquefied petroleum gas (LPG) tankers to Mitsui O.S.K. Lines and at least three LPG tankers to NYK Line.