HMM orders new eco-friendly mega containerships

Twenty vessels with 14,000 TEU and 20,000 TEU capacity are considered to be deployed on the Asia-North Europe and US East coast trades, respectively

HMM orders new eco-friendly mega containerships

HMM Hyndai Mergent Marine embarks on ordering twenty new eco-friendly mega containerships, twelve above 20,000 TEU and eight above 14,000 TEU vessels. After 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 ordering eco-friendly and highly efficient mega containerships.

The International Maritime Organization (IMO) is moving forward with a marked reduction in the maximum sulfur content bunker fuel oil from 3.5% to 0.5% on January 1, 2020. To comply with the new environmental regulations, HMM will opt for scrubber installation or LNG bunkering for all the newbuilding vessels after thorough discussions with the finally selected shipbuilder.

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.

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 & shareholder value, and to create added value between shipping and logistics for mutual growth. To do so, HMM will boost its organizational capability, develop IT technology adopted in shipping, and expand global networks.