HD Hyundai Marine Engine Signs Licensing Deal with WinGD, Securing Engines from Both Major Technology Licensors

Secures license to manufacture and sell WinGD two-stroke propulsion engines
Expands lineup to include dual-fuel engines fueled by LNG, ammonia, and methanol
Third-quarter operating profit reaches 60.3 billion won, up 197% year on year

HD Hyundai Marine Engine is expanding its engine lineup through a partnership with WinGD, a global marine engine technology licensor.

HD Hyundai Marine Engine CI.

HD Hyundai Marine Engine said on October 30 that it had signed a licensing agreement with WinGD on October 28 at its headquarters in Changwon, South Gyeongsang Province, to manufacture and sell two-stroke marine propulsion engines. The signing ceremony was attended by HD Hyundai Marine Engine CEO Yoo Jeong-dae and WinGD executives.

Under the agreement, HD Hyundai Marine Engine will be able to manufacture and supply marine propulsion engines incorporating WinGD technology. The company has also added WinGD’s dual-fuel engines, which can run on various fuels, including liquefied natural gas (LNG), ammonia, liquefied petroleum gas (LPG), and methanol, to its lineup.

With WinGD added to its existing partnership with Everllence (formerly MAN Energy Solutions), HD Hyundai Marine Engine will now be able to manufacture engines from both technology licensors that dominate the global marine propulsion engine market. The company said this will enable it to respond more flexibly to shipowners’ varied needs based on vessel type, fuel, and engine brand. It plans to increase production flexibility in line with the marine market’s shift toward eco-friendly dual-fuel engines.

Its financial performance is also improving. HD Hyundai Marine Engine recorded revenue of 211.4 billion won and operating profit of 60.3 billion won in the third quarter, up 93.8% and 197%, respectively, from a year earlier. The increase was driven by a rise in engine deliveries and a larger share of revenue from dual-fuel engines.

An HD Hyundai Marine Engine representative said, “This agreement is significant because it further strengthens our position as a comprehensive marine engine manufacturer. By diversifying our product lineup, we will expand the range of choices available to customers and actively respond to new demand from shipyards in Korea and abroad.”

This content was produced with the assistance of AI translation services.