HD Korea Shipbuilding & Offshore Engineering Co. secured orders worth 2.54 trillion won ($1.8 billion) for 22 container ships last week as global carriers sought alternatives to Chinese shipyards facing potential US tariffs.
The holding company of HD Hyundai Heavy Industries Co. disclosed in a regulatory filing that the vessels range from 1,800 to 16,000 twenty-foot equivalent units. The contracts came from shipping companies in Asia and Oceania, with deliveries scheduled through 2028.
The deals emerge as ocean carriers increasingly turn to South Korean shipbuilders to mitigate risks associated with possible US duties against Chinese-built vessels. Washington has been considering heavy tariffs on Chinese ships as trade tensions persist between the world’s largest economies.
Separately, rival Hanwha Ocean announced a 371 billion won ($270 million) contract from an Oceania-based client for two very large crude carriers, scheduled for delivery by July 2027.
For Hanwha Ocean, these latest tankers bring its 2025 order book to 14 vessels worth approximately $3 billion, including LNG carriers and ultra-large container ships.
South Korean shipbuilders have been regaining market share after a challenging period, benefiting from global shipping companies’ diversification strategies and renewed demand for specialized vessels.
