South Korea s 200kWh Foldable Container Order

Which shipbuilders are building eco-friendly container ships in South Korea?

South Korea’s largest shipping company HMM has ordered 12 new 13,000 TEU-class eco-friendly container ships from Korean shipbuilders, as well as two very large container ships, for a total of $2.82 billion. The 12 containerships will be built by HD Hyundai Heavy Industries and Hanwha Ocean, and all of them will be LNG-fueled vessels, HMM said.

Who is pursuing a container ship order from Hanwha Ocean?

Hanwha Ocean is also pursuing a 1.8 trillion won ($1.3 billion) container ship order from Germany’s Hapag-Lloyd, the world’s fifth-largest shipping firm. Meanwhile, Korea’s three largest shipbuilders are seen as strong contenders for a 2.3 trillion won container ship contract from Taiwan’s Yang Ming Marine Transport.

Why did Korean shipbuilders win the second-highest volume of shipbuilding orders?

Korea secured the second-highest volume of shipbuilding orders in May, trailing only China, despite a sharp drop in global demand. Korean shipbuilders are now expanding their efforts to win orders for high-value container ships, traditionally dominated by Chinese yards, as well as liquefied natural gas (LNG) carriers.

Are Korean shipbuilders securing more complex contracts?

China led the market with 640,000 CGT across 42 ships, or 39 percent of the total. However, Korea’s higher average CGT per vessel — 31,000 compared to China’s 15,000 — indicates that Korean shipbuilders are securing more complex, higher-value contracts. Facing slower-than-expected demand, Korean yards are stepping up bidding efforts.