HD Hyundai Samho, the largest company in South Jeolla Province, has achieved order intake performance reaching 12 trillion won this year, the second-largest achievement since 2022, despite the global shipbuilding order slowdown.
According to industry sources and foreign media on Dec. 30, Greek shipping company Capital Clean Energy Carriers recently decided to place orders for three liquefied natural gas (LNG) carriers with HD Hyundai Samho, a shipbuilding affiliate of HD Hyundai. The total contract value is $769.5 million (approximately 1.1047 trillion won), and the vessels are scheduled to be delivered sequentially from 2028 to 2029. Capital Clean Energy Carriers is known to have selected HD Hyundai Samho after seeking a shipbuilder with technological capabilities to maximize fuel efficiency of LNG carriers.
HD Hyundai Samho has been accelerating last-minute performance improvement by securing additional orders worth over 2 trillion won this month alone. On Dec. 2, the company signed a construction contract for one LNG carrier worth 367.2 billion won with an Asia-based shipping company, and on Dec. 19, agreed to supply four container ships worth a total of 689.6 billion won to an Oceania shipping company. Including these contracts, HD Hyundai Samho’s total order intake this year is estimated to reach $7.889 billion.
This significantly exceeds HD Hyundai Samho’s target set at the beginning of the year ($4.571 billion) and surpasses last year’s order intake ($7.242 billion) when global ship orders were active. It also represents the largest order performance since 2022 ($8.662 billion), which was during the global shipbuilding super boom period.
HD Hyundai Samho is also achieving profit improvement through selective order strategies focusing on high value-added vessel types such as LNG carriers. HD Hyundai Samho specializes in LNG carrier construction among HD Hyundai’s shipbuilding affiliates. The total number of LNG carriers ordered by HD Hyundai Samho this year reached 7 vessels, an increase from last year’s 6 vessels. Additionally, container ship orders increased from 16 to 24 vessels during the same period, and tankers increased from 9 to 12 vessels. HD Hyundai Samho’s operating profit through the third quarter reached 1.044 trillion won, a 44.3% increase compared to the same period last year.
Expectations for regional economic revitalization are growing due to HD Hyundai Samho’s favorable order intake and profit performance. HD Hyundai Samho operates a shipyard in Yeongam, South Jeolla Province, employing approximately 4,000 workers. Including partner companies, the number of workers related to HD Hyundai Samho reaches approximately 20,000. Along with employment effects, HD Hyundai Samho’s share of manufacturing sales in the Yeongam region reached 50% based on last year’s figures.
Source: Business Korea
