HD Korea Shipbuilding & Offshore Engineering secured a 2.4 trillion won ($1.77 billion) contract for eight ultra-large container ships, marking another step in the shipbuilder’s push toward cleaner vessel technology as South Korean yards fight to retain market share against Chinese competitors.
The 15,900 TEU vessels will feature liquefied natural gas dual-fuel engines and measure 366 meters in length, with delivery scheduled for the second half of 2028. The ships represent part of 44 container vessels HD Korea Shipbuilding has won this year, with 60% equipped with LNG propulsion.
The order comes as Korean shipyards captured just 18% of new orders in the first 11 months of 2024, their lowest level since 2016, while Chinese yards secured 69%. HD Korea Shipbuilding set a 2025 order target of $18 billion, up 33.7% from 2024’s $13.5 billion target, though still below last year’s actual achievement.
LNG has emerged as the preferred alternative fuel choice for shipowners, with more than 2,400 vessels equipped to operate on LNG globally and another 1,000 on order. The fuel positions vessels to meet FuelEU Maritime regulations starting in January 2025, which require a 2% reduction in greenhouse gas intensity.
Despite the environmental benefits, industry analysts note LNG serves primarily as a transition fuel while cleaner alternatives like ammonia and hydrogen remain years from commercial viability.
