HD Hyundai Mipo Wins Order for Three Container Ships Worth 222.4 Billion Won

New Hull Design Delivers 20% Fuel Efficiency Boost
Rising Orders Amid Growing Demand for Feeder Ship Replacement

HD Hyundai Mipo, a shipbuilding subsidiary of HD Hyundai, has secured a container ship order by introducing a new hull design that enhances fuel efficiency.

On September 29, HD Hyundai Mipo announced that it had recently signed a contract with an Oceania shipping company to build three container ships worth a total of 222.4 billion won. The order consists of two vessels with a capacity of 2,800 TEU and one vessel with a capacity of 1,800 TEU. The ships will measure 186 meters and 172 meters in length, 35 meters and 27.4 meters in width, and 17.4 meters and 14.3 meters in height, respectively. These vessels will be built at the Ulsan shipyard and delivered sequentially by October 2027.

Container ships with a capacity below 3,000 TEU are classified as feeder ships, serving to connect ports that cannot accommodate large container ships with major hub ports. They are considered highly profitable due to their ability to operate without additional terminal expansion, short routes, high turnaround rates, and low fuel costs.

According to Clarkson Research, a UK-based shipbuilding and shipping analytics firm, the feeder container ship market is expected to reach approximately $2.74 billion this year. Driven by demand for replacing aging vessels and an increase in short-distance maritime cargo, the market is projected to grow at an average annual rate of 8.7%, reaching $6.34 billion by 2035.

HD Hyundai Mipo has already secured orders for 21 feeder container ships so far this year, a significant increase compared to last year’s total of six. The company explained that its newly developed hull design, which maximizes propulsion efficiency and minimizes resistance, can achieve up to 20% fuel savings and reduce greenhouse gas emissions.

A representative from HD Hyundai Mipo stated, "Shipping companies are increasingly inquiring about orders, prioritizing eco-friendly technology and delivery reliability," adding, "We will actively pioneer new markets such as icebreakers, leveraging our unrivaled technological capabilities."

This content was produced with the assistance of AI translation services.