Hyundai Merchant Marine plans to order 20 container ships

HMM

11/04/2018 04:55

By Roslan Khasawneh
    SINGAPORE, April 11 (Reuters) - South Korea's largest
shipper, Hyundai Merchant Marine Co Ltd (HMM)  011200.KS , plans
to order 20 mega container ships to better compete in the global
market, it said on Tuesday.
     HMM said it planned to order a dozen ships with a carrying
capacity above 20,000 twenty-foot equivalent unit containers
(TEU) and eight 14,000 TEU container ships. 
    "Through the acquisition of the most technologically
advanced mega container ships, we can strengthen cost
competitiveness and react rapidly to the international
environmental regulations," the company said.
    To comply with stricter emissions regulations coming into
effect in less than two years, the South Korean shipper said it
would opt for either installing scrubbers on its new-builds or
fuelling them with liquefied natural gas (LNG). 
    HMM has begun the selection process for the shipyards it
would award its order to and the decision on how it would comply
with environmental regulations would depend on the discussions
with the selected shipbuilder.
    The International Maritime Organization's (IMO) in 2016
ruled it would slash sulphur emissions limit on ships worldwide
to 0.5 percent by 2020, from the current 3.5 percent.
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 (Reporting by Roslan Khasawneh; Editing by Amrutha Gayathri)
 ((roslan.khasawneh@thomsonreuters.com;))