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Hyundai Samho secures $216 million contract for containership duo

Hyundai Samho secures $216 million contract for containership duo

South Korean shipbuilder Hyundai Samho Heavy Industries has received an order from an unidentified European shipowner to construct two containerships.

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The containerships are worth 239 billion KRW (216.1 million dollars) and are scheduled for shipment in 2023. There was no release of further information about the ship design and possible fuel type.

For the container shipping industry, which is experiencing a significant recovery from the COVID-19 demand squeeze, the contract is being announced at a very favorable time.

Record results driven by higher rates, demand recovery and lower bunker prices have been posted by industry majors such as Maersk and HMM.

In its 2021 forecast, Maersk expects demand to remain strong in Q1, forecasting that as bottle necks at congested ports clear out and the effect of the pandemic on consumer purchasing habits winds down, the upsurge will normalize.

The sector turnaround has seen industry majors return to the yards over the last couple of months after abstaining from investments for quite a while with orders for ultra-large containerships.

Seaspan Corporation announced an agreement yesterday with an undisclosed shipyard for two new 24,000 TEU containerships.

The delivery of ships is expected to begin in H1, 2023. Both conventional fuel vessels will join 18-year charters with a global liner customer upon completion.

Maritime Business World 

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