HD Korea Shipbuilding & Offshore Engineering (KSOE) has emerged as the leading candidate to secure a $2.5 billion order from Japan’s largest shipping company, Ocean Network Express (ONE), for up to 12 ultra-large containerships. HD Hyundai is strengthening its competitiveness in the containership market with overwhelming technological prowess, quality, and delivery reliability.
According to Norway’s shipping industry publication ‘TradeWinds’ on the 22nd, ONE is considering ordering a maximum of 12 dual-fuel 16,000 TEU-class containerships from HD Hyundai. The deal includes eight firm vessels with an option for four additional ships.
The price per vessel is estimated at around $220 million, bringing the total contract value to approximately $2.5 billion.
ONE has been reviewing orders for large containerships for the past two years. Initially, the company planned to order New Panamax vessels in the 10,000–13,000 TEU range but has now decided to proceed with Neo Panamax-class ships in the 12,000–16,000 TEU range.
ONE is a long-standing customer of HD Hyundai. In 2022 and 2023, the Japanese shipping giant ordered 10 containerships each from HD Hyundai Heavy Industries and Japan’s Nihon Shipyard, capable of running on methanol and ammonia.
ONE is the world’s sixth-largest shipping company, operating a fleet of 267 vessels with a total capacity of 2.03 million TEU. While it has traditionally placed newbuild orders with South Korean and Chinese shipyards, it has recently shifted focus to South Korea amid escalating U.S.-China trade tensions.
HD Hyundai has been expanding its market share in the containership sector, securing orders for 22 vessels worth $1.84 billion last month alone. The company recently signed contracts with an Oceania-based shipping firm for four 8,400 TEU-class containerships, eight 2,800 TEU-class containerships, and six 1,800 TEU-class containerships over just four days.
