HD Korea Shipbuilding reports 37% profit jump and marine tech milestone

HD Korea Shipbuilding & Offshore Engineering (HD KSOE) reported a 37.3% increase in third-quarter operating profit, reaching 1.45 trillion won ($1.08 billion). The growth was driven by rising ship prices, particularly for liquefied natural gas (LNG) carriers, and strong performance in engine and offshore businesses.

Key subsidiaries also saw significant gains. HD Hyundai Heavy Industries reported a 61.3% surge in operating profit, while HD Hyundai Samho's profit rose 56.3% year-on-year. The marine engine segment, HD Hyundai Marine Engine, saw operating profit nearly triple due to increased deliveries and dual-fuel engine sales.

In technological developments, the American Bureau of Shipping (ABS) has verified a breakerless medium-voltage direct current (MVDC) power system concept developed by HD KSOE and HD Hyundai Heavy Industries (HHI). Designed for large commercial vessels requiring approximately 30 MW of power, the system aims to improve energy efficiency and support high-capacity electrification. The project will now move toward the Prototype Validation stage.