HMM Inks Final Contracts for 20 Boxship Giants

HMMIllustration; Image Courtesy: Pixabay under CC0 Creative Commons license

South Korean shipping company Hyundai Merchant Marine (HMM) has signed formal contracts for its twenty eco-friendly mega containerships with three shipyards.

Under the deals, signed on September 28, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries (SHI) will build seven and five 23,000 TEU containerships, respectively, which are expected for delivery in the second quarter of 2020.

Hyundai Heavy Industries (HHI) will construct eight 15,000 TEU containerships to be delivered in the second quarter of 2021.

The long-awaited order for the containership giants first surfaced in December last year. At the time, HMM unveiled plans to start a selection of shipyards by sending out its Request for Proposal (RFP) to shipbuilding companies in April 2018.

In order to make the ships compliant with the IMO’s Sulfur Cap, HMM said it would consider fitting the ships with scrubbers or LNG-fuelled engines. The decision would be made following discussions with shipbuilders.

“If the shipbuilding process proceeds smoothly followed by the selection of the shipbuilder, signing of a Letter of Intent (LOI) and finalizing its contract, all the new vessels will be sequentially delivered in the right time to prepare for the 2020 environmental regulations,” HMM earlier said.

The fleet investment, aimed at boosting the shipping line’s competitiveness, is part of South Korean government’s 5 Year Plan for Rebuilding Korean Shipping.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

Salvage & Wreck

Salvage and Wreck Removal Conference will focus on Casualty management case studies, Dealing with hazardous cargo and container ship fires…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >