Seatrade Maritime: HMM lines-up $2.8 bn tanker and container ship order

HMM said it was investing KRW4 trillion ($2.8 billion) for twelve 13,000 teu container ships and two VLCCs.

The container ships, which will be LNG dual-fuel, are being built at South Korean yards HD Hyundai Heavy and Hanwha Ocean.

“As decarbonisation regulations from the IMO and EU continue to strengthen, LNG is viewed as one of the most readily deployable lower-emission fuels,” the shipping company said.

The company has also ordered two VLCCs at an undisclosed yard as it continues to diversify its business into other areas of shipping apart from containers.

HMM started to take delivery of seven car carrier newbuildings in September this year as well as deploying deployments four multi-purpose vessels and two MR chemical tankers. It also inked a 10-year dry bulk COA with Brazilian iron ore miner Vale worth KRW430 billion.