Overview

• HD KSOE began construction at Subic with a steel-cutting for a 115,000-ton petrochemical carrier, the first of four ordered in December by an Asia-based shipowner.
• Philippine President Ferdinand Marcos Jr. attended the ceremony and projected about 4,300 local jobs at the yard by 2030.
• HD Hyundai said it aims to build at least four medium- to large-sized vessels per year at Subic as it rebuilds capacity in bulk carriers and tankers.
• HHI and HMD boards approved a merger with HHI as the surviving entity at a 0.4059146 HHI-for-1 HMD share exchange ratio, targeting completion in December 2025 after shareholder and regulatory reviews.
• HD KSOE plans a Singapore-based overseas investment corporation by December 2025 and has signed an MOU with Cerberus and Korea Development Bank for a Korea–U.S. Maritime Investment Partnership tied to MASGA.