First-half results of South Korea's major shipbuilders and ship parts makers (Unit: billion won) Company Revenue Operating profit/loss Operating profit margin (%) HD Hyundai Marine Solution 820.8 122.4 14.9 HD Korea Shipbuilding & Offshore Engineering 12,131.1 536.6 4.4 HD Hyundai Mipo 2,129.5 6.3 0.3 Hanwha Ocean 4,819.7 43.2 0.9 Samsung Heavy Industries 4,879.7 208.5 4.3 HJ Shipbuilding & Construction 952.3 -27.6 Negative Source: Company filings to the Financial Supervisory Service Since the International Maritime Organization (IMO) set out guidelines, effective from 2023, to reduce carbon emissions from international shipping by at least 40% by 2030, ship modification orders have been rising.
HD Hyundai Marine Solution Co., a ship parts manufacturing and after-sales service company, has reported the highest-ever operating profit margin in South Korea’s maritime industry in the first half of this year, buoyed by the growing demand for eco-friendly engines in line with stringent low emission regulations.
The operating margin at HD Hyundai Marine Solution, an affiliate of the world’s largest shipbuilder HD Hyundai Heavy Industries Co.reached 14.9% as of the end of June of this year.It earned 122.4 billion won ($91 million) in operating profit against sales of 820.8 billion won in the first six months of this year.
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