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Hyundai Merchant Marine signs LOIs with 3 shipyards to build 20 Container Ships

Hyundai Merchant Marine Co., South Korea’s leading shipping company, has signed letters of intent (LOIs) for its mega containership orders for 20 container carriers with three shipyards on June 15, 2018; the three shipyards are Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co.

Since HMM sent out a Request for Proposal (RFP) to shipbuilding companies on April 10, HMM has considered all the conditions for newbuilding including delivery date and price of new ships suggested by shipbuilders, and finally selected three shipbuilders to sign a Letter of Intent (LOI) for 20 new vessels, says an official statement.


DSME and Samsung Heavy Industries will build seven and five 23,000 TEU containerships respectively which are expected to deliver in the second quarter of 2020, and Hyundai Heavy Industries will construct eight 14,000 TEU containerships to be delivered in the second quarter of 2021.


HMM will negotiate further details of new shipbuilding and sign the formal contract.


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