HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai Group’s shipbuilding business, announced on Jan. 3 that the company’s ship order target for 2025 is set at $18.12 billion, with a focus on high-end and environmentally friendly ships.
The company said in a regulatory filing that its annual order target for 2025 is $18.12 billion, 34 percent higher than its 2024 target of $13.5 billion, but down 12 percent from the $20.56 billion in orders it actually received in 2024.
In 2024, the three shipyards under HD KSOE (HD Hyundai Heavy Industries, HD Hyundai Mipo, and HD Hyundai Samho) took orders for a total of 181 vessels valued at $20.56 billion, achieving 152.2% of the annual order target of $13.5 billion.In 2025, HD Hyundai Heavy Industries has a ship order target of $9.75 billion, while HD Hyundai Samho and HD Hyundai Mipo have a target of $4.57 billion and $3.8 billion, respectively. targets are US$4.57 billion and US$3.8 billion, respectively.
According to the “Outlook of Shipping and Shipbuilding Industry in 2025,” a report released by the Export-Import Bank of Korea’s Overseas Economic Research Institute, the global newbuilding order book is expected to reach 42 million compensated gross tonnage (CGT) in 2025, a decrease of 28.8% from 59 million CGT in 2024. Despite the expected slowdown in the global shipbuilding industry this year, HD KSOE still raised its order target, reflecting its strong confidence.
A director of HD KSOE said, “We have set our order target for this year in view of the favorable momentum of the continuous growth of orders for environmentally friendly vessels. We will continue our profit-oriented order selection strategy as we secure stable orders.”