HD KSOE, Samsung Heavy Industries and Hanwha Ocean recorded operating rates of 100% or more in H1 2026 while increasing investment in automation and shipyard facilities.
China secured 52 of 90 LNG carrier orders in H1 2026, compared with South Korea’s 37, as Chinese yards expanded their share of the high-value shipbuilding segment.
South Korea’s three major shipbuilders recorded about $130 billion in combined order backlog, while HD Hyundai Heavy Industries and Samsung Heavy Industries exceeded merchant vessel targets.
South Korean and Chinese shipbuilders secured 14 and 26 of 40 VLAC orders announced from January to July 2026 as demand for long-distance ammonia transport vessels increased.
The U.S. has ordered a plan for a fifth public Navy Yard while allowing qualifying foreign shipbuilders to build up to two initial vessels abroad before production shifts to U.S. yards.
Chinese shipyards secured 34 LNG carrier orders by early July 2026, compared with 32 for South Korean yards, as limited Korean capacity affected contract allocation.
HD Hyundai faces renewed safety scrutiny after a fatal fall at HD Hyundai M&S became the third reported death this year at a shipyard operated by a group company.
HD Korea Shipbuilding & Offshore Engineering secured three VLACs worth 545.6 billion won, raising annual orders to 142 vessels and 70.3% of its target.
Foreign nationals accounted for 9.3% of HD Hyundai Heavy Industries’ workforce in 2025, led by Vietnamese employees, as the shipbuilder expanded overseas hiring amid labor shortages.
