6.9 C
Monday, January 17, 2022

New CN mobile APP Available Now

New CN mobile APP Available Now

Home News HMM to agree with South Korea’s Big Three yards for a dozen...

HMM to agree with South Korea’s Big Three yards for a dozen new Panamax vessels

South Korean liner operator, HMM will split orders for twelve 13,000TEU new container vessels among the country’s three largest shipbuilders, according to reports.

HMM has reportedly signed letters of intent with Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries, according to local media. The orders are expected to be finalised at the end of June.

The newbuildings are estimated to cost US$125 million each, working out to a total of US$1.5 billion. Additionally, vessel deliveries are expected to be from late 2023 to 2024, while HMM is working on the construction details with the shipyards.

When Container News asked HMM about the latest reports, a company spokesperson said, "Concerning containership newbuilding orders, we have been under discussions with domestic shipyards, but no specific decisions have been made yet, and we can’t confirm further at the moment."

Once the delivery of the new ships is completed, HMM's fleet will reach 1.12 million TEU, achieving cost competitiveness on Transpacific routes in view of the current tight shipping capacity.

Martina Li
Asia Correspondent

Latest Posts

SCA boss says Suez Canal expansion will be completed in July next year

The chairman of the Suez Canal Authority (SCA), Osama Rabie, has confirmed that the expansion of the canal is expected to be completed in...

COSCO offers “special train” service to its compatriot Hisense Group

COSCO Shipping Group has announced that a special train for Hisense Home Appliances fully loaded with Hisense electrical products departed from Jimo Port Station...

Box volumes boost at Port Saint John in 2021

Port Saint John in Canada has reported a 10% increase in its annual container volumes with 86,949 TEU moved through the port in 2021. This...

Port of Felixstowe reports record container cargo handling

Hutchison Ports-operated Port of Felixstowe has handled the largest number of containers ever on a single ship in Europe, when the UK port's dockers...

CN Photo Project: The Picture of the Week

Container News wants to thank you all for your participation in the CN Photo Project. Among all the very beautiful photos we have received, the Container News team has...