South Korea’s HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the country’s leading shipbuilder and a core subsidiary of HD Hyundai, has secured a $597 million contract to build four large container ships for Korea Marine Transport Co. (KMTC), as the mid-sized shipping line expands its fleet to serve North America and Mexico.
Several media outlets reported on August 19 that KMTC placed an order for four 13,000 TEU container vessels, each priced at approximately $150 million. The ships will be built to neo-Panamax specifications and are expected to run on conventional fuel.
This latest order continues KMTC’s longstanding relationship with HD KSOE and its affiliates. In 2023, the company commissioned two 8,700 TEU vessels from HD Hyundai Samho Heavy Industries, a subsidiary of HD KSOE, in a deal valued at $228 million. Those ships are scheduled for delivery by March 2027.
Prior to that, KMTC received two 2,500 TEU vessels—KMTC Seoul and KMTC Dalian—from HD Hyundai Mipo Dockyard in 2020. The company has also previously equipped one of its ships with HD Hyundai’s proprietary Himsen engine model 7H21/32, marking the first such use by a domestic shipping firm back in 2003.
The new order signals KMTC’s strategic push to upsize its fleet, with the largest vessel it currently operates being 8,000 TEU. The move comes as the company re-enters the transpacific trade after a 40-year hiatus.
In June, KMTC launched its ‘Asia–Pacific Express’ (APX) service connecting Asia to the U.S. West Coast. The route, jointly operated with Singapore-based SeaLead Shipping and Taiwan’s TS Lines, targets rising freight demand and increased rates in the transpacific market.
KMTC also joined the ‘Asia–Mexico Express’ (AMX) service in May, capitalizing on growing trade volumes between South Korea and Mexico. The company is expected to deploy the newly ordered vessels on routes serving East Asia to the Middle East, the Indian subcontinent, or North America.
According to French shipping analytics firm Alphaliner, KMTC ranks 17th globally with a fleet of 63 ships totaling 143,569 TEUs—30 owned and 33 chartered. Its current orderbook stands at four vessels totaling 33,800 TEUs.
