HD Hyundai Vietnam Shipbuilding (HVS) plans to invest US$100 million in expanding docks, quay walls, and production facilities at its shipyard in Vietnam's Khanh Hoa Province.
HVS is targeting production capacity of 23 ships annually by 2030, up from 15 at present, and aims to reach 30 ships per year over the medium to long term.
The yard occupies approximately one million square metres and has two docks and about 1.5 kilometres of quay wall.
HVS also confirmed that its tenure at the site runs through 2066. On April 16, the Khanh Hoa Province Economic Zone and Industrial Park Management Board issued the company an amended investment registration extending it by 20 years.
The US$100 million budget and the 23-ship target were first outlined in May 2025 by Shipbuilding Industry Corporation, the yard's Vietnamese joint venture partner.
Later that year, HD Hyundai Mipo committed US$57 million to three new piers and the expansion of existing facilities at the yard, with the same 2030 capacity goal.
By the end of September, the yard had built 207 vessels, comprising 140 product carriers and 67 bulk carriers. The company said it accounts for about 70 per cent of Vietnam's ship orders and more than 80 per cent of national vessel deliveries.
The yard has also begun building LNG dual-fuel tankers. In July, it cut steel for the first of two 115,000DWT LR2 tankers ordered by UK-based Union Maritime for delivery between August and November 2027.
