Marine Link
Sunday, September 24, 2017

HMM Orders New Carriers

August 31, 2017

File Photo: Hyundai Merchant Marine

File Photo: Hyundai Merchant Marine

 South Korea’s largest ocean carrier Hyundai Merchant Marine (HMM) will invest USD 417.61 million in five new very large crude oil carriers (VLCCs), Reuters reported quoting company sources.

 
"HMM will invest 470 billion South Korean won (U.S. $418 million) in new facilities for the construction of five, 300,000 deadweight ton (DWT) VLCCs with Daewoo Shipbuilding & Marine Engineering (DSME), with an option for five more," said company sources.
 
HMM will acquire two 11,000-TEU containerships from Hanjin Heavy Industries & Construction’s Subic Shipyard. The contract price is approximately $162 million for the two vessels. 
 
HMM also confirmed expansion of its container fleet with two ships of 11,000 teu each to be built at a Hanjin yard in the Philippines. The carrier also confirms an order for ten tanker vessels.
 
The investments, due to be completed by September 2019 and May 2018 respectively, aim to boost the competitiveness of its fleet and services.
 
Maritime Reporter Magazine Cover Sep 2017 - Maritime Port & Ship Security Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News