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Biz News Korea(Eng)
Hyundai Merchant Marine adds 7 new vessels to its fleet
- Collected
- 2017.09.02
- Distributed
- 2017.09.04
- Source
- Go Direct
The HMM in a disclosure statement on Thursday said it was buying two container ships with the cargo capacity of 11,000 twenty-foot equivalent (TEU) at 181.9 billion won from Hanjin Heavy Industries & Construction Co.. Separately, it will place orders for five very large crude carriers (VLCC) worth 470.3 billion won with Daewoo Shipbuilding & Marine Engineering Co.
The two container ships with the cargo capacity of 11,000 TEU being built at Hanjin Heavy’s Subic Shipyard in the Philippine will be delivered to the HMM in the first half of 2018. The purchase was made 10 percent below the market value.
The vessels will be deployed on the route to South America.
The company also made new orders for five VLCCs with the help of the government’s new ship funding program as cost for VLCC has become cheapest since 2003.
HMM, groomed as the country’s sea flag carrier after Hanjin Shipping went under, hopes to join the world’s top five shippers’ rank by 2021.
Shares of Hyundai Merchant Marine finished Friday 0.67 percent up at 8,960 won.
By Kim Jung-hwan
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]