This is an amended filing
HD KOREA SHIPBUILDING & OFFSHORE ENGINEERING CO., LTD. Subsidiary HD Hyundai Heavy Industries' Mexico FPU contract raised to KRW 2.0 trillion
HAI summary · Not investment advice
The amount of subsidiary HD HYUNDAI HEAVY INDUSTRIES CO.,LTD.'s 2023 contract for one FPU for a Mexico-based oil developer was revised up to KRW 2.0 trillion, 21.72% of recent revenue.
Contract amount
KRW 2.0 trillion
Subsidiary HD Hyundai Heavy Industries · 21.72% of recent revenue · revised upward by correction
Key facts
- Contract details
- One FPU (floating production unit)Construction order · conditional contract
- Subsidiary
- HD HYUNDAI HEAVY INDUSTRIES CO.,LTD.
- Recent revenue
- KRW 9.0 trillion2022 consolidated
- % of revenue
- 21.72%
- Counterparty
- A Mexico-based oil development company
- Supply region
- Mexico
- Contract period
- Jul 1, 2023 – Jun 1, 2027
- Contract date
- Jun 30, 2023
- Payment terms
- Paid by construction progressNo down payment
Commentary
AI commentary · Not investment advice
What happened
HD HYUNDAI HEAVY INDUSTRIES, a subsidiary of HD KOREA SHIPBUILDING & OFFSHORE ENGINEERING, revised the amount of an offshore unit contract signed in 2023. The project is one FPU (a floating unit that produces and processes crude oil at sea) for a Mexico-based oil developer. The amount was revised up to KRW 2.0 trillion. It is a US dollar amount converted at the contract-date exchange rate and rounded.
In the company's terms
The new amount equals 21.72% of the subsidiary's recent revenue (KRW 9.0 trillion, 2022 consolidated), up from 21.60% before the correction. Construction runs until June 1, 2027.
What changes for shareholders
The contract is conditional (it takes effect only if certain terms are met). The company said it will file again right away if anything changes.
Earlier Single Sales/Supply Contract filings from this company
| Filed | Counterparty | Contract amount | % of revenue |
|---|---|---|---|
| 26.10.202026.10.20 | Shipping company based in Africa | KRW 322.8 billion | 3.57% |
| 26.10.202026.10.20 | HMM CO.,LTD | KRW 1.4 trillion | 17.84% |
| 26.10.152026.10.15 | A Middle East-based shipowner | KRW 625.8 billion | 3.56% |
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