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HMM to order 11 vessels of 22000 teus (BusinessKorea)

Hyundai Merchant Marine will start ordering ultra-large vessels that can transport 22,000 20-foot containers beginning next month at the earliest.

According to the government and the shipping industry on February 11, the Ministry of Oceans and Fisheries will announce the ‘Five-Year Plan for the Reconstruction of Korean Shipping’ at the end of this month. When the five-year plan is announced, the Founding Committee for Korea Maritime Promotion Corporation launched on February 5, will begin to provide financial support. The corporation can issue bonds up to four times its capital (3.1 trillion won or US$2.7 billion) and manage up to 12 trillion won (US$10 billion) in funds. The Ministry of Oceans and Fisheries said that the ministry will support the ordering of 50 vessels this year

A future vision outlined by Hyundai Merchant Marine in line with the shipping reconstruction plan is summarized into “a super large fleet, the invasion of Europe and forming new alliances.” First of all, Hyundai Merchant Marine will place orders of 20 vessels –- twelve 12,000-TEU vessels and eight 13,000-TEU vessels –- one by one, starting in March.

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Source: BusinessKorea

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