HMM to jump on the methanol-fuelled containerships worth of $1.12bn

SEOUL : South Korea’s HMM is ordering nine 9,000 TEUs capacity boxships with methanol dual-fuelled engines from two South Korean yards. The orders worth a total of $1.12bn are split with seven newbuilds at Hyundai Samho Heavy Industries and two at HJ Shipbuilding and Construction.

HMM said that with the newbuild contracts it had taken the initial step toward expanding its fleet using alternative fuels. Due for delivery in 2025 and 2026 the ships will be deployed on the Asia-North/Latin America trade lanes and the Asia-India routes.

A proposed green shipping corridor between Busan in Korea and US ports is also seen as a possible deployment for the vessels.

The first mover in methanol-fuelled large containerships was Maersk and it has been followed by the likes of Cosco Shipping and CMA CGM. The supply of green or grey methanol as a marine remains a question mark though and Maersk has been investing in its own sources of supply.

To secure methanol fuel supply for its vessels HMM has signed a Memorandum of Understanding (MoU) with five fuel suppliers, including Proman, PTTEP, European Energy and Hyundai Corp to study the feasibility to procure various types of methanol at its main bunkering ports.

“We will continue to drive efforts to support the global community’s broader transition to carbon neutrality while at the same time strengthening our fundamental level of future capability in the face of increasingly fierce competition in the global market.” said President and CEO of HMM, Kim, Kyung Bae.