HD Korea Shipbuilding wins 480 billion won container ship order from HMM

HD Korea Shipbuilding & Offshore Engineering said Tuesday that its subsidiary HD Hyundai Heavy Industries will build two container ships for HMM under a contract worth 480 billion won ($360 million).

The order amounts to 2.7 percent of the company's revenue, measured against its most recent annual sales, the company said.

HD Korea Shipbuilding & Offshore Engineering is the intermediate holding company for the group's shipbuilding operations, which include subsidiaries HD Hyundai Heavy Industries and HD Hyundai Samho. Ship construction accounted for 82.9 percent of the company's consolidated revenue, spanning crude oil tankers, container ships, LNG carriers, LPG carriers and naval vessels. The contract was disclosed as a major management matter of its subsidiary.