HMM boss outlines 2017 newbuild orders

HMM boss outlines 2017 newbuild orders

At a quarterly briefing in Seoul yesterday Yoo Chang-Geun, president of Hyundai Merchant Marine (HMM), outlined plans to order up to 10 ships at Korean yards in 2017.

“There are five small and medium sized containerships planned for redelivery and scrap in the second half of next year. We will need five containerships replacement and three to five VLCCs, which will be ordered in 2017,” Yoo said, stressing the orders would be made on home soil.

The new boxships will be deployed on intra-Asia trades, with Yoo saying HMM had no intention of ordering larger containerships anytime soon.

“We expect very few large containerships in the 15,000 to 20,000 teu range to be ordered for the next two to three years,” Yoo said.

Yoo also said HMM was reviewing options to take on some of defunct compatriot Hanjin Shipping’s assets.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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