HD Korea Shipbuilding & Offshore Engineering Co. has secured a $3.72 trillion ($2.59 billion) order to build 12 LNG dual-fuel container ships.
The company stated in a regulatory filing that the vessels were ordered by an undisclosed European shipping company, but industry reports indicate that the likely client is France’s CMA CGM, one of the world’s top shipping companies. The 18,000 TEU ships will be built at HD Hyundai Heavy Industries Co.’s Ulsan shipyard. This marks HD KSOE’ s first shipbuilding order for 2025, with delivery scheduled for December 2028.
Generally, container shipping companies like Maersk, CMA CGM, and COSCO, have ordered hundreds of new vessels in recent years meant to meet rising demand from customers and regulators around the globe.
According to DNV, the growth in alternative-fueled vessel orders has been heavily driven by the container and car carrier newbuild boom over the last three years. In 2024, 69% of all container ship orders were for ships capable of being powered by alternative fuels, driven by cargo owners responding to consumer demands for more sustainable practices and liner companies preparing to replace older tonnage.