▶ An exclusive Memorandum of Understanding (MOU) between HD Hyundai and Tampa Ship, part of the Edison Chouest Offshore family of affiliated companies, was executed to collaborate on commercial shipbuilding ▶ U.S.-built, LNG dual-fuel containerships to be delivered by 2028 with support from HD Hyundai in design, procurement, and shipbuilding technology ▶ Strengthening U.S. shipbuilding capacity and advancing shared industrial and national security goals HD Hyundai announced the launch of a strategic shipbuilding collaboration in the United States centered on Tampa Ship, a major U.S. shipyard operating within the Edison Chouest Offshore (ECO) family of companies, to construct containerships in the United States. HD Hyundai announced on Sunday, June 22, that it recently held a signing ceremony with U.S.-based Tampa Ship LLC, a company within the Edison Chouest Offshore family of affiliated companies (hereinafter referred to as ECO), to establish a strategic and comprehensive collaboration that outlines a multi-faceted alliance to build medium-sized LNG dual-fuel containerships at Tampa Ship, with first deliveries targeted for 2028. As part of the collaboration, HD Hyundai will provide critical support to Tampa Ship in vessel design, procurement of specialized equipment, and transfer of advanced shipbuilding technology. HD Hyundai will also participate in the fabrication of certain ship blocks and invest in key technical infrastructure to enhance the capability of Tampa Ship. Tampa Ship, located in Tampa, Florida, has a long legacy in U.S. shipbuilding and is one of five shipyards operated by ECO across the country. Through this initiative, Tampa Ship is positioned to lead the revitalization of U.S. commercial shipbuilding and to help address the shortage of domestically constructed vessels. The signing ceremony was held on Friday, June 19 and was attended by Choi Hannae, Vice President, Head of Corporate Planning Division at HD Korea Shipbuilding & Offshore Engineering, and Dino Chouest, Executive Vice President of ECO. According to Clarksons Research, U.S. yards received orders for only three 3,600 TEU-class containerships between 2022 and 2024. This collaboration between HD Hyundai and Tampa Ship aims to address this gap and re-establish the United States as a competitive force in the global shipbuilding industry. Through this collaboration, the parties also expressed intent to explore further opportunities beyond commercial containerships, including collaboration on other potential fleet classes as well as heavy industrial port equipment, which are all integral to maritime security and domestic infrastructure resilience. “The United States is a strong ally and an important business partner for us,” stated an official from HD Hyundai. “Through our collaboration with ECO, we aim to actively support U.S. efforts to revitalize its shipbuilding industry and strengthen national security.” This initiative follows HD Hyundai’s ongoing efforts to deepen cooperation with U.S. maritime and defense stakeholders. Earlier this year, the company entered into agreements with Huntington Ingalls Industries and Fairbanks Morse Defense, and continues to support academic partnerships, including with the University of Michigan and Seoul National University, to foster future talent in naval architecture and marine engineering.  

▶ HD Korea Shipbuilding & Offshore Engineering, HD Europe Research & Development Center, and HD Hydrogen signs Joint Development Project (JDP) agreement with European classification society and cruise operator ▶ Solid Oxide Fuel Cell (SOFC) system to offer both environmental and economic benefits by reducing carbon emissions and improving energy efficiency ▶ Making it suitable for high-power-consuming cruise ships with low noise and vibration, enhancing competitiveness in the European market ▶ “We aim to lead global maritime decarbonization efforts with our high-efficiency, low-carbon fuel cell technology” HD Hyundai announced the development of fuel cell technology for cruise ships in line with the global decarbonization trend. HD Hyundai recently stated that its affiliates—HD Korea Shipbuilding & Offshore Engineering, HD Europe Research & Development Center, and HD Hydrogen— recently signed a Joint Development Project (JDP) agreement with DNV, a leading global classification society, and TUI Cruises, one of Germany’s leading cruise operators. The project aims to explore the application of Solid Oxide Fuel Cell (SOFC) systems on cruise vessels. SOFC is a high-efficiency fuel cell that generates electricity by reacting hydrogen—extracted from sources such as natural gas or ammonia—with oxygen. Since it produces electricity without combustion, it significantly reduces carbon and pollutant emissions. Compared to conventional engine-based power generation systems, SOFC offers superior efficiency, achieving both environmental sustainability and economic viability. It produces a low level of noise and vibration while providing high power generation efficiency, making it especially suitable for cruise ships that require large amounts of electricity. HD Hyundai plans to secure global competitiveness by developing SOFC technology applicable to cruise ships, with a focus on the European market—where environmental regulations are stringent and demand for such vessels is high. The market outlook is also promising. According to global market research firm Grand View Research, the global SOFC market is expected to grow at a compound annual growth rate (CAGR) of 40.7% through 2030, reaching approximately USD 7.12 billion (KRW 9.81 trillion), driven by increasing demand and investment in clean energy. As a first step, HD Korea Shipbuilding & Offshore Engineering and the HD Europe Research & Development Center will establish safety design standards for applying SOFC systems to cruise ships over an eight-month period from June this year to February next year. HD Hydrogen, an affiliate of HD Korea Shipbuilding & Offshore Engineering specializing in hydrogen fuel cell technology, will analyze the performance of its proprietary SOFC systems under various operating conditions based on its core technical data. In addition, HD Hyundai will develop technologies to recover and reuse waste heat generated by SOFC systems, which operate at high temperatures ranging from 600°C to 1,000°C. The company also plans to explore solutions to partially reduce carbon emissions from SOFC systems by leveraging carbon capture and storage (CCS) technologies. As part of the project, DNV will support regulatory compliance and contribute to overall safety from the initial design onward. TUI Cruises will provide cruise ship specific data relevant to SOFC application, along with installation requirements and operational specifications necessary for actual deployment. A representative from HD Hyundai stated, “This international joint development project marks a significant milestone in demonstrating HD Hyundai’s world-class decarbonization technology for ships in the European market. We hope to lead the maritime decarbonization initiative through our low-carbon, high-efficiency fuel cell technology.” Meanwhile, HD Hyundai established HD Hydrogen last year as part of its effort to enter the hydrogen fuel cell market. The company is currently collaborating with various global shipping companies to expand the application of SOFC systems across multiple types of vessels.  

  ▶ Signed a strategic MOU with Indonesia’s Hasnur Group to collaboratively develop mining solutions.  ▶ Collaboration areas include supplying mining equipment, developing operational systems, and establishing an electrification ecosystem. ▶ The aim is to utilize Indonesia's mining market as a springboard for expanding global presence in the mining industry. HD Hyundai Construction Equipment is enhancing its presence in the Indonesian mining sector through a strategic partnership with Hasnur Group, one of Indonesia's leading mining companies.  On the 19th of this month, a memorandum of understanding (MOU) was signed at HD Hyundai Construction Equipment’s Ulsan Campus, with key representatives from both companies in attendance. The ceremony included Choi Cheol-gon, President of HD Hyundai Construction Equipment, and Jayanti Sari, President of Hasnur Group. With the signing of the MOU, the two companies reached an agreement regarding the following initiatives: ▲the supply of mining equipment, ▲the development of comprehensive mining solutions, ▲the creation of electric excavators, and ▲the establishment of site management systems to foster optimal solutions for mining management. Hasnur Group will receive equipment from HD Hyundai Construction Equipment and will share operational data to help develop solutions to enhance equipment efficiency. HD Hyundai Construction Equipment plans to supply mining machinery to Hasnur Group in phases, starting with large wheel loaders. The company aims to propose strategies for optimizing mining operations based on data collected from the field.  Additionally, it will develop a comprehensive ‘Total Mining Solution’ that encompasses equipment supply, maintenance, and site management systems. Field tests of electrified equipment, including electric excavators, will be conducted at Hasnur Group's mines to accelerate technological progress and develop an electrification ecosystem. Indonesia is home to the world's largest nickel reserves and has a steadily increasing demand for mining equipment, driven by its diverse strategic mineral resources such as tin and cobalt.  According to global market research firm 6Wresearch, Indonesia's mining equipment market is projected to reach approximately $2.5 billion (around 3.4 trillion won) by 2025, with an average annual growth rate of 8.1% through 2031. Through this collaboration, HD Hyundai Construction Equipment aims to strengthen its foothold in the Indonesian mining market and expand its global presence in the mining equipment sector.  Choi Cheol-gon, President of HD Hyundai Construction Equipment, stated, “This collaboration will mark a turning point for us, moving beyond merely supplying equipment. It will enhance our capabilities in mining site operation solutions and the development of an electrification ecosystem. We aspire to become a comprehensive solutions provider grounded in digital technology within the global mining market.” Meanwhile, HD Hyundai Construction Equipment has launched excavators equipped with rock rippers for rock crushing and wheel loaders with fork attachments for stone transportation. The company is also focusing on the development of a 140-ton-class super-large excavator. ■ Photo Caption: HD Hyundai Construction Equipment President Choi Cheol-gon (fifth from the left in the front row) and Hasnur Group President Jayanti Sari (sixth from the left in the front row) pose for a commemorative photo following the signing of the strategic business agreement at the Ulsan Campus on the 19th.