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...]
HMM Sets Course for 1 Million TEU Fleet with Megaship Order
By Mike Wackett (The Loadstar) - South Korea’s largest surviving ocean carrier, Hyundai Merchant Marine (HMM) has now officially confirmed its plans to order 350,000 teu of new capacity, including 12 x 20,000 + teu ultra-large vessels. In a bullish statement today, HMM said that the order of the 12 ULCVs together with eight 14,000 teu ships was part of its strategy to … [Read more...]
Hyundai Merchant Marine Confirms Plan for 20 Mega-Containerships
South Korea's flagship container shipping company Hyundai Merchant Marine has confirmed a long-rumored plan to order 20 eco-friendly mega containerships at South Korean shipyards. The shipbuilding plan announced Tuesday calls for twelve vessels above 20,000 TEU and eight vessels of 14,000 TEU, which will be deployed on the Asia to North Europe and U.S. East Coast … [Read more...]
Loss-Making HMM Stays Bullish, But Its Goal of Becoming a Leading Carrier Seen as ‘Pipe Dream’
By Mike Wackett (The Loadstar) - Hyundai Merchant Marine’s long-term aspiration to become a “leading global carrier” with a market share of 5% is a pipe-dream, according to maritime consultant Drewry. It advises the ambitious South Korean carrier to instead “focus its energies on restoring its profitability and reputation”. HMM’s 2018 strategy is referred to, in a … [Read more...]
Hyundai Merchant Marine Planning to Order 22,000 TEU ‘Megaships’ in 2018
South Korean shipping line Hyundai Merchant Marine has revealed plans to construct 22,000 TEU containerships in 2018 to boost its competitiveness within the global shipping sector. The revelation was made this week by HMM President & CEO, C.K. YOO, during the company's 2018 strategy meeting, intended to map out growth strategies for the coming year. “This will be the … [Read more...]