Singapore-based container shipping major Ocean Network Express (ONE) has finalised an order with South Korea's HD Hyundai Heavy Industries for six 15,000 TEU LNG-fuelled container ships. With each vessel slightly over $200 million, the total contract value exceeds $1.2 billion. The ships are expected to be fully delivered by end-2029.
Including the six newly finalised orders, ONE has ordered a total of 36 dual-fuel container ships from yards in China and South Korea since 2024. Of those, 22 are 13,000 TEU methanol-fuelled vessels (Jiangnan Shipyard and Yangzijiang Shipbuilding each building 11), while the remaining 14 are 15,000 TEU LNG-fuelled vessels, all built by HD Hyundai Heavy Industries. The carrier is pressing ahead with its long-term alternative-fuel fleet renewal strategy despite scaling back earlier expansion plans.
For HD Hyundai, this contract reinforces a strong run in the container segment, coming after the recent $1.46 billion order from HMM for eight ultra-large container ships. The South Korean yard secured its largest single contract in 18 years from HMM in December 2025; the ONE order shows the trend continuing. South Korean yards are seeing record book fill for LNG dual-fuel orders through 2025-2027.
From a supply chain perspective, the ONE order signals that container carriers are accelerating the alternative-fuel transition in response to EU ETS and FuelEU Maritime costs. The 15,000 TEU class sits at the upper end of the current neopanamax container standard; these vessels will be deployed on Asia-Europe and Asia-Mediterranean trades. ONE's dual-track methanol-and-LNG strategy acts as a hedge against alternative-fuel supply uncertainty — Maersk is concentrated in methanol, while MSC and CMA CGM are investing in both LNG and methanol with similar hedges.
Key Takeaways:
1. Ocean Network Express has ordered six 15,000 TEU LNG container ships from HD Hyundai for $1.2B.
2. All vessels expected to be delivered by end-2029.
3. ONE's total dual-fuel container order book since 2024 reaches 36 ships (22 methanol + 14 LNG).
4. HD Hyundai continues its container momentum after the recent $1.46B HMM order for 8 ULCVs.
5. Vessels will be deployed on Asia-Europe and Asia-Med routes, lifting EU ETS compliance.
