Hyundai Merchant Marine Selects 3 Yards to Build Eco-Friendly Mega Containerships

June 4, 2018

 South Korea's Hyundai Merchant Marine (HMM) has selected the shipbuilders who will build the eco-friendly mega containerships it is to order under its "Capacity of 1 Million TEU Strategy."

 
Since HMM sent out a Request for Proposal (RFP) to shipbuilding companies on April 10, HMM has considered all the conditions for newbuilding including delivery date and price of new ships suggested by shipbuilders, and finally selected three shipbuilders to sign a Letter of Intent (LOI) for 20 new vessels.
 
First, HMM chose Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries (SHI) for seven and five 23,000 TEU containerships respectively which are expected to deliver in the second quarter of 2020. 
 
HMM also selected Hyundai Heavy Industries (HHI) for eight 14,000 TEU containerships to be delivered in the second quarter of 2021. 
  
HMM formed a ‘newbuilding examination committee’ in order to thoroughly review all the conditions and selected shipbuilders followed by fair procedures. 
 
After signing a Letter of Intent with shipbuilders, HMM will negotiate further details of new shipbuilding including prices and conclude the final agreement.
 

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