HYUNDAI Merchant Marine (HMM) has placed an order for two 11,000-TEU ships from Hanjin Heavy Industries' Subic Shipyard for US$162 million, 10 per cent less than the market price, according to HMM, now Korea's biggest carrier.
The target delivery date is May 2018, and the vessels are expected to be operated on the east coast of South America trade.
HMM's board has also finalised a plan to invest KRW470 billion (US$418 million) in new facilities for the construction of five, 300,000 dwt large crude carriers (VLCCs) with Daewoo Shipbuilding & Marine Engineering (DSME), with an option for five more, American Shipper reports. Deliveries will start in the first half of 2019.
The plan will be financed through the New Shipbuilding Programme, which the Korean government announced last October to support the shipping industry.