Hyundai Heavy Industries Holdings Co Ltd

HD Hyundai, TerraPower and Hyundai E&C held their first executive-level meeting since signing a memorandum of understanding in May, aiming to accelerate commercialization of next-generation Natrium small modular reactors. HD Hyundai Chairman Chung Kisun met with TerraPower Founder and Chairman Bill Gates, TerraPower President and CEO Chris Levesque, and Hyundai E&C CEO Lee Han-woo in Seoul on August 14 to discuss cooperation on land-based sodium-cooled fast reactors. HD Hyundai plans to invest in production facilities with a goal of supplying two to three primary Natrium reactor vessels annually, while TerraPower provides technology and Hyundai E&C handles engineering, procurement and construction. The U.S. has about 95 gigawatts of installed nuclear capacity, roughly 25% of the global total, and aging plants plus data-center electricity demand are expected to drive replacement and new-build demand.

HD Hyundai Heavy Industries has signed a contract with U.S.-based energy infrastructure developer Corban Energy Group to supply power generation systems for data centers operated by a major U.S. technology company. The deal, valued at USD 673.8 million, covers a combined capacity of 1,000 megawatts using the company's 9.6-megawatt HiMSEN engines and marks its largest-ever order for power generation engines. This follows a previous USD 425 million agreement in April with another U.S. developer, AEG, for similar data center power equipment. The company highlighted the HiMSEN engine's high efficiency and reliability for continuous operation, and said it plans to expand cooperation with Corban Energy Group on future projects.

HD Korea Shipbuilding & Offshore Engineering has signed a memorandum of understanding with Fraser Industries LLC to cooperate on shipyard modernization projects aimed at revitalizing the U.S. shipbuilding industry. The two companies plan to collaborate across the entire shipyard lifecycle, from construction to operations, including yard layout design, deployment of robotics and automation, and implementation of AI-driven digital solutions. HD Korea Shipbuilding & Offshore Engineering will provide an integrated package of technologies and expertise required to build smart shipyards, covering design, production systems, and data management. The partners intend to sign a contract this year for a modernization consulting program, using Fraser Shipyards on Lake Superior as a demonstration model. The initiative aligns with the U.S. government's Maritime Prosperity Zones and the Great Lakes region's emergence as a key hub for shipbuilding revitalization.

HD Hyundai and Kiewit Offshore Services have formed a strategic partnership to collaborate on U.S. shipbuilding projects. The agreement was signed on July 16 at Kiewit Offshore Services' headquarters in Ingleside, Texas. The companies will work together on U.S. shipbuilding opportunities, including the fabrication of ship blocks and modules. The partnership combines HD Hyundai's expertise in ship design, advanced manufacturing, procurement, and shipbuilding technology with Kiewit's capabilities in large-scale fabrication, construction, and engineering, procurement and construction project execution.

Dorian LPG has ordered a new very large gas carrier from HD Hyundai for approximately $115 million, with delivery expected in 2029, while separately agreeing to sell three VLGCs to unnamed purchasers for $256 million. The newbuilding will be a dual-fuel panamax unit designed to transit the older locks of the Panama Canal. The vessels being sold include the 2014-built Corsair and two 2015-built VLGCs, with the transactions expected to close by the fourth quarter. The company also reported that it had fixed 99% of its available days for the quarter ending June 30 at more than $68,000 per day, and for July it had fixed 34% of its days at more than $100,000 per day.