South Korea’s renowned shipbuilders—HD Hyundai Mipo Dockyard and its affiliate HD Hyundai Samho Heavy Industries—have confirmed ongoing negotiations for a potential $1.55 billion mega-order involving 20 advanced container ships. According to regulatory filings and industry sources, the deal is being discussed with a major Greek shipowning firm, with delivery slots expected between 2027 and 2028.
Although no binding agreement has been signed yet, both yards have reportedly executed a letter of intent (LOI), signaling mutual interest and preliminary alignment. Analysts suggest this could become one of the largest container ship contracts for South Korean yards since the post-pandemic shipbuilding surge.
The potential order comes as global demand for fuel-efficient vessels rises. European shipping firms, especially in Greece, are upgrading fleets to meet stricter IMO decarbonization targets and evolving environmental regulations. The ships are expected to feature dual-fuel technology, automation, and optimized hull designs aligned with green standards.
The collaboration between Hyundai Mipo and Hyundai Samho strengthens the bid's appeal. Mipo’s mid-sized vessel expertise combined with Samho’s large-ship capabilities offer production flexibility, enabling shared workloads and faster delivery timelines.
For South Korea, this deal reflects a strong rebound in shipbuilding, reinforcing its leadership in high-tech and eco-friendly vessel construction. If finalized, it will escalate competition with Chinese and Japanese shipyards for major container ship contracts in 2025 and beyond.
Formal announcements are expected soon as final terms are negotiated. The outcome could shape fuel-efficient design trends, shipyard strategies, and maritime sector confidence globally.
