South Korea’s front runner container delivery business Hyundai Merchant Marine has actually validated a long-rumored strategy to get 20 environment-friendly huge containerships at South Korean shipyards.

The shipbuilding strategy introduced Tuesday asks for twelve vessels over 20,000 TEU as well as 8 vessels of 14,000 TEU, which will certainly be released on the Asia to North Europe as well as UNITED STATE East Coast professions.

The statement comes simply a couple of days after the South Korean federal government introduced its very own strategy to assist the nation’s troubling delivery as well as shipbuilding market in the middle of weak international need for ships as well as overseas gears. The multi-year recession has actually led to enormous losses for South Korean shipbuilders in addition to the personal bankruptcy of Hanjin Shipping, as soon as the country’s leading service provider. HMM just recently additionally undertook its very own financial obligation restructuring.

Hyundai Merchant Marine states it has actually currently begun the procedure of choosing shipyards for the newbuilds as well as on Tuesday it sent Request for Proposals to shipbuilders.

Assuming all goes as intended, the brand-new “eco-friendly and highly efficient” vessels will certainly be supplied in time for the IMO’s reduced sulphur policies starting in 2020, the business claimed.

For HMM, the order begins its method of raising its fleet capability to 1 million TEU over the following 3 years, which the business states will certainly assist it acquire international competition with economic climates of range.

The order comes in spite of HMM publishing losses going beyond $1 billion in 2017, creating some to question the business’s lasting goal of ending up being a “leading global carrier.”

“HMM has been making its concerted efforts in all sectors, since its restructuring plan was implemented in the second half of 2013. HMM has focused on securing financial liquidity through KRW 4 billion restructuring plan including sales of controlling stake in affiliates and other property,” the business claimed.

“Through the acquisition of the most technologically advanced mega containerships, we can strengthen cost competitiveness and react rapidly to the international environmental regulations,” HMM claimed in its statement. “HMM will do its best to become a global top carrier to meet expectations of related organizations and shareholders.”

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