The world’s largest containership has departed China carrying a record 19,621 TEUs. South Korean shipping line HMM said its new HMM Algeciras departed the Port of Yantian on May 8 bound for Rotterdam with 19,621 TEUs loaded on board. HMM Algeciras, currently on its maiden voyage, is the first of twelve 24,000 TEU-class containerships under construction for HMM. The … [Read more...]
HMM Launches World’s First 24,000 TEU Containership
At 23,964 TEU, the HMM Algeciras is the world's largest containership. Photo: HMM HMM has launched its first of twelve 24,000 TEU containerships HMM Algeciras, the world’s largest containership. The ship was officially named during a private ceremony at the Daewoo Shipbuilding and Engineering (DSME) shipyard in South Korea. The HMM Algeciras measures 399.9 … [Read more...]
Oil Prices Crash Below Zero for First Time in History Amid Pandemic
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Picture taken November 22, 2019. REUTERS/Angus Mordant/File Photo By Stephanie Kelly NEW YORK, April 20 (Reuters) - U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, … [Read more...]
World’s Biggest Boxships Will Be Fitted with Scrubbers
Hyundai Merchant Marine will fit its 23,000 TEU megaships with exhaust gas cleaning systems to meet the International Maritime Organization's low sulphur fuel regulations. South Korea's number one shipping line has hired Finnish technology company Valmet to supply the so-called scrubber systems for the seven newbuilds under construction at the Daewoo Shipbuilding & … [Read more...]
HMM to Spread 20-Vessel Megaship Order Among South Korea’s Top Shipbuilders
South Korea's biggest shipping line Hyundai Merchant Marine has opted to split its twenty-vessel megaship order among South Korea's top three shipbuilders as it seeks to accelerate its strategy of achieving 1 million TEU capacity. HMM confirmed in April its intention to place orders for the 20 eco-friendly newbuilds, comprising of twelve vessels of 23,000 TEU capacity … [Read more...]