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HMM to order 20 eco-friendly, mega containerships

 

Hyundai Merchant Marine (HMM) has embarked on ordering new eco-friendly mega containerships.

 

After the South Korean government’s ‘5 Year Plan for Rebuilding Korean Shipping’ announcement, HMM, as Korea’s national flagship carrier, is now getting into its stride to gain global competitiveness through eco-friendly and highly efficient mega containerships.

 

It plans to order a total of 20 mega vessels—12 above 20,000-TEU and eight 14,000-TEU vessels—which are likely to be deployed in the Asia-North Europe and US East Coast trades, respectively.

 

Considering factors such as the recent increase in new shipbuilding prices and dock availability, HMM has commenced selection of shipyards by sending out its Request for Proposal (RFP) to shipbuilding companies on April 10.

 

To comply with the new environmental regulations of IMO, HMM will opt for scrubber installation or LNG bunkering for all the newbuilding vessels after thorough discussions with the finally selected shipbuilder.

 

If the process of selection of the shipbuilder, signing of Letter of Intent (LOI) and finalising the contract proceeds smoothly, all the new vessels will be sequentially delivered in the right time to prepare for the 2020 environmental regulations.

 

Through these additions, HMM will be able to secure stronger fleet competitiveness with the benefit of economies of scale. Furthermore, it will help the company to have a stable basis for making profits in the intensely competitive market, said a release.

 

An HMM official said: "Through the acquisition of the most technologically advanced mega containerships, we can strengthen cost competitiveness and react rapidly to the international environmental regulations… HMM will do its best to become a global top carrier to meet expectations of related organisations and shareholders."

 

Source: Exim News Service - Seoul, April 15

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