Hyundai Merchant Marine to order 20 new ships

APRIL 10, 2018 — South Korea's Hyundai Merchant Marine (HMM) says that, following announcement of the Korean government's Five Year Plan for Rebuilding Korean Shipping, it is to order a series of eco-friendly and highly efficient mega containerships.

Initially, HMM plans to order of total twenty mega-vessels; twelve of above 20,000 TEU and eight 14,000 TEU vessels which are it plans to deploy in the Asia-North Europe and U.S. East Coast trades respectively.

HMM will start on selection of shipyards by sending out its Request for Proposal (RFP) to shipbuilding companies today.

To meet coming IMO regulations on fuel sulfur content, HMM says it "will opt for scrubber installation or LNG bunkering for all the newbuilding vessels after thorough discussions with the finally selected shipbuilder."

Along with the fleet expansion, HMM is going to set a new mid-long term plan to enhance its global competitiveness to promote business normalization and shareholder value, and to create added value between shipping and logistics for mutual growth. To do so, it says it will "boost its organizational capability, develop IT technology adopted in shipping, and expand global networks."

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