HD Hyundai Heavy Industries announced on April 16 that it had signed a contract worth 640.6 billion won to jointly construct four naval vessels with the Peruvian state-owned SIMA Shipyard. Selected as the priority negotiating partner at the end of last month, the contract was formalized within appro
HD Hyundai Group’s shipbuilders have achieved 73 percent of this year’s order target in the first 100 days of this year. In particular, they are enjoying a boom in eco-friendly ships for the first time in 15 years, as they have been selecting only high-value-added vessels to fill its docks.According
The government plans to expand maritime transport capacity to 140 million tons by 2030. Additionally, it has decided to increase the national shipping fleet to 2 million TEUs.The Ministry of Oceans and Fisheries unveiled the “Plan for Stabilizing Management and Improving Vitality of the Maritime Ind
Anticipations are growing for the Korean shipbuilding industry’s entry into the U.S. warship maintenance, repair and overhaul (MRO) business as the U.S. Secretary of the Navy, who is in charge of the U.S. Navy’s weapons procurement and budget, has praised the capabilities of the Korean shipbuilding
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.Basking in an absence of one-off issues in 1Q24, SHI’s shipbuilding volume and margins are expanding. Having already won 40% of its 2024 order target, the firm should see its full-year order intake r
HD Hyundai will develop an unmanned surface vessel (USV) with Palantir Technologies, a U.S. artificial intelligence-based data analysis company.USVs are autonomous surface vessels not piloted by humans. They are being recognized as a game changer for future naval warfare. It replaces existing manned
On the night of April 13 (local time), Iran launched retaliatory attacks against Israel, employing drones, cruise missiles, and ballistic missiles. This action is expected to lead to an escalation in international oil prices. In addition, the exchange rate of the Korean won against the U.S. dollar r
As Hanwha Ocean assumes control of wind power generation and plant operations from Hanwha Corporation, it is initiating a full-scale expansion of its offshore wind value chain.According to industry sources on April 8, Hanwha Ocean is poised to acquire the wind power business from Hanwha Corporation’
Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok has highlighted the need for a new growth model as South Korea transitions from a beneficiary of China’s growth to a competitor, according to a report by the Financial Times (FT) on April 8.In a recent interview with FT, Deputy
While global ship orders in 2024 fell from 2023, orders for high-value-added ships such as liquefied natural gas (LNG) and liquefied petroleum gas (LPG) carriers are on the rise, bringing smiles to Korean shipbuilders.According to Clarkson Research, a British shipbuilding and shipping market analyst
Korea’s shipbuilding order intake surpassed China’s for the first time in three years in the first quarter of 2024.The Korean Ministry of Trade, Industry and Energy (MOTIE) announced that shipbuilding orders in the first quarter of this year totaled US$13.6 billion, surpassing China’s US$12.6 billio
Hanwha Group’s acquisition of Australian defense company Austal has hit a snag. The challenge arose because Austal indicated that obtaining approval for the acquisition from Australian and U.S. authorities would be difficult, effectively rejecting the proposal.According to Reuters on April 1 (local
Hanwha Ocean announced on April 2 that it has signed a construction contract for four liquefied natural gas (LNG) carriers with an Asian shipowner. The contract value amounts to 1.24 trillion won (US$916.16 million).Hanwha Ocean did not specify the exact contracting party. Considering factors such a
HD Korea Shipbuilding & Offshore Engineering (KSOE), an intermediate holding company of HD Hyundai, has teamed up with a German company that is the world’s No. 1 power semiconductor maker to develop ship electrification technology.HD KSOE announced on March 28 that it has signed a memorandum of unde
Hanwha Ocean announced on March 25 that it has secured a deal to construct eight liquefied natural gas (LNG) carriers from a shipowner based in the Oceania region. The contract is valued at 2.44 trillion won (US$1.82 billion). The company intends to build the vessels at its Geoje shipyard and aims t
The trade conflict between the U.S. and China has spilled over into the shipbuilding industry and Korean shipbuilders that compete with China for the No. 1 spot in the global shipbuilding market are expected to benefit from this situation.According to industry sources, the U.S. Trade Representative
As the Bank of Japan (BOJ) has embarked on its first interest rate hike in 17 years, it is anticipated that the strengthening of the yen due to the lifting of Japan’s negative interest rates could have a positive impact on domestic exports such as semiconductors, automobiles, and shipbuilding. Howev
HD Hyundai, the intermediate holding company for shipbuilding of HD Korea Shipbuilding & Offshore Engineering [009540], announced on March 18 that it has recently signed a construction contract for three ammonia carriers (VLAC) with an Oceanian shipping company. The total order amount is 490 billion
The combined operating profit of the top 10 companies by market capitalization in the South Korean stock market falls short of those of leading Japanese company Toyota and top Taiwanese company TSMC.To address the “Korea discount,” which refers to the undervaluation of South Korean stocks, it is poi
The United States targeting Chinese-made goods as part of its supply chain localization and trade war strategies is expected to affect China’s shipbuilding industry after the Chinese semiconductor industry.According to the Financial Times (FT) and other foreign media outlets, U.S. President Joe Bide