HD Hyundai competing with Chinese Shipbuilder for container ship order

HD Hyundai Group and China’s Yangzijiang Shipbuilding are going head-to-head over a large-scale container ship order worth more than one trillion won.

With global ship orders expected to decrease in 2023 compared to last year, competition for global orders between Korean and Chinese shipbuilders has been getting hotter since the beginning of 2023.

According to Tradewinds, a shipping media outlet, HD Hyundai’s subsidiary Hyundai Heavy Industries is vying with China’s Yangzijiang Shipbuilding to win the five LNG-powered container ships from Taiwan’s Yangming Marine.

The order is worth at least US$900 million. The ships to be ordered are 15,000- to 16,000-TEU vessels. Seven shipbuilders participated in a tender in August last year, but now only the two are on the short list.

Foreign media outlets reported that the delivery date will be the key to the client’s decision. The client wants the ships to be delivered in 2025 at the earliest and in the first half of 2026 at the latest.

Source: BusinessKorea