South Korea’s largest shipbuilder, HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE), said Friday it aims to win $180.05 billion worth of orders this year.
The company said in a regulatory filing that this year’s annual order target is 33.7% higher than last year’s ($13.5 billion). However, the secured in 2024 was $20.56 billion, 12% lower than this year’s order target.
By affiliate, HD Hyundai Heavy Industries Co. aims to win $9.75 billion worth of ship orders this year, with HD Hyundai Samho and HD Hyundai Mipo Co. targeting $4.57 billion and $3.8 billion, respectively.
HD KSOD said it has set this year’s order target in light of the market conditions for eco-friendly vessels. The company also emphasized that it will continue its profitability-oriented selective ordering strategy.
According to the Shipping and Shipbuilding Industry Outlook 2025 report released by the Export-Import Bank of Korea, global new ship orders are expected to reach 42 million CGT (compensated gross tonnage) this year, down 28.8% from 59 million CGT last year.
Source: The Korea Economic Daily
