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June 25, 2018

HMM to sign major deal with Korean shipbuilders

PUBLISHED : June 04, 2018 - 13:33

UPDATED : June 04, 2018 - 13:33

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[THE INVESTOR] Hyundai Merchant Marine said on June 4 that it plans to sign deals with the country’s three major shipbuilders for 20 vessels.

HMM said it has been selected by Hyundai Heavy Industries, the world‘s biggest shipbuilder by sales, for eight 14,000 twenty-foot equivalent unit container ships.

The shipping line also selected Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries, both major shipyards for seven and five 23,000 TEU container ships, respectively.

HMM said it will quickly conclude negotiations with the three shipbuilders by working out necessary details.

“We expect to sign letters of intent with the three shipbuilders in one or two weeks,” said Woo Byung-sun, a spokesman of HMM.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)

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