Benefiting from US-China Rivalry: HD Hyundai Heavy Industries Secures Ultra-Large Vessel Order from Thai Shipping Company

First Construction Contract with Thailand's Regional Container Lines
435.3 Billion Won Deal for Two 13,800 TEU-Class Container Ships
"Expanding into New Markets with Eco-Friendly Technology"

HD Hyundai Heavy Industries has successfully secured an order for ultra-large container vessels, continuing to benefit from the restructuring of the 'de-China supply chain' amid the United States' intensified efforts to counter China.

On November 10, HD Hyundai Heavy Industries announced that it recently signed a contract with the Thai shipping company Regional Container Lines (RCL) to build two container ships. The total contract value amounts to 435.3 billion won.

Sea trial of a 13,000 TEU container carrier built by HD Hyundai Heavy Industries and delivered in 2024. HD Hyundai Heavy Industries

The newly ordered vessels are ultra-large container ships with a capacity of 13,800 TEU (twenty-foot equivalent units), measuring 337 meters in length, 51 meters in width, and 27.3 meters in height. They will also be equipped with scrubbers, which are exhaust gas reduction devices. These ships will be constructed at HD Hyundai Heavy Industries in Ulsan and are scheduled for sequential delivery by October 2028.

RCL ranks among the top 21 global shipping companies based on operating capacity and has traditionally placed orders mainly with Chinese shipyards. However, this time, the company chose a Korean shipyard for the first time. In fact, until last year, RCL had consecutively ordered 4,400 TEU and 11,100 TEU container ships from Chinese shipyards.

Clarksons Research, a shipbuilding and shipping industry analysis firm, forecasts that global demand for container ships will increase by an average of 2.8% annually through 2037. In particular, ongoing US-China tensions and global tariff wars are expected to drive long-term demand through the expansion of trade in emerging markets and the restructuring of shipping supply chains.

Including this latest contract, HD Hyundai Heavy Industries has secured orders for 61 container ships this year. This figure is more than double the 28 ships ordered last year and the 29 ships ordered in 2023.

A representative from HD Hyundai Heavy Industries stated, "Orders are increasing in the container ship sector, where demand remains strong, thanks to our eco-friendly technology and stable quality management capabilities. Based on our technological expertise and construction track record, we will also actively pursue new markets."

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