HD Hyundai Marine Engine secures ship engine supply contract with Samsung Heavy Industries

South Korea’s HD Hyundai Marine Engine has signed a ship engine supply agreement with Samsung Heavy Industries, adding a new equipment order to its contract portfolio extending into 2029.

According to a regulatory filing submitted on November 9, 2026, the contract is valued at KRW 36.12 billion, equivalent to approximately USD 26.6 million at the exchange rate specified in the announcement. The agreement represents 9% of HD Hyundai Marine Engine’s consolidated revenue for 2025, which totalled KRW 402.4 billion.

The contract takes effect on November 9, 2026, and is scheduled to run until June 20, 2029. HD Hyundai Marine Engine noted that the completion date may change depending on Samsung Heavy Industries’ shipbuilding schedule.

Under the agreement, payments will be made through advance and final instalments linked to the engine supply schedule. The contract covers domestic deliveries in South Korea, although the filing does not identify the vessels for which the engines are intended.

The company has not disclosed the number of engines included in the order, their technical specifications or the propulsion technologies involved. The announcement also does not identify the shipowners or shipbuilding projects associated with the equipment.

The agreement adds to HD Hyundai Marine Engine’s shipbuilding-related supply commitments and provides contracted activity extending over the next several years. Its financial contribution will depend on the delivery and payment schedule, with the disclosed contract value representing the total agreement rather than revenue already recognised.

Samsung Heavy Industries is one of South Korea’s major shipbuilders, with activities spanning commercial vessels and offshore projects. The latest agreement concerns the supply of marine engines, but the available filing does not establish a connection to any particular vessel segment or recently announced shipbuilding contract.