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Category: HMM

  • Bidders circle again as Dongwon revives hunt for HMM

    Bidders circle again as Dongwon revives hunt for HMM The race to acquire state-controlled South Korean flagship HMM is heating up once again. Two years after the first sale attempt failed, Dongwon Group, South Korea’s largest fishing company, has signalled its renewed interest, stirring up the market.  Although the company’s valuation has soared to as…

  • HMM awards HD Hyundai a $1.46 BN containership contract

    HMM awards HD Hyundai a $1.46 BN containership contract South Korea’s HD Hyundai reports that it has secured an order worth around $1.46 billion from HMM for eight ultra-large containerships worth around $1.46 billion, recording the largest container ship order volume in 18 years since the shipbuilding supercycle in 2007. Placed with HD Korea Shipbuilding…

  • HMM places major order for 12 LNG-powered boxships, 2 VLCCs

    HMM places major order for 12 LNG-powered boxships, 2 VLCCs South Korean shipping company HMM has ordered a fleet of containerships and very large crude carriers (VLCCs) worth KRW 4 trillion (about $2.9 billion). The post HMM places major order for 12 LNG-powered boxships, 2 VLCCs appeared first on Offshore Energy. Naida Hakirevic Prevljak Go…

  • HMM tied to $2.2bn boxship orders

    HMM tied to $2.2bn boxship orders Broking reports list a sizeable order from South Korea’s flagship carrier worth more than $2bn in total.  HMM is reported to have ordered 12 LNG dual-fuelled, 14,000 teu containerships on home soil. The vessels, thought to be costing around $182.5m per unit are split between two of the country’s…

  • HMM signs long-term contract with Vale

    HMM signs long-term contract with Vale HMM has signed a long-term contract of affreightment (COA) with Brazil’s Vale, valued at KRW430bn ($309m). This is the second contract signed between the two companies, following a KRW 636bn, 10-year deal concluded in May. Under the new agreement, HMM will transport iron ore using five bulk carriers over…

  • Federal Maritime Commission okays Premier Alliance agreement

    Federal Maritime Commission okays Premier Alliance agreement The Federal Maritime Commission (FMC) in the US has given its blessing to the formation of the Asian liner grouping, the Premier Alliance. Alliance partners HMM, Ocean Network Express (ONE), and Yang Ming were left stunned when in early November the FMC demanded more information about the new…

  • Global liner alliances retrench

    Global liner alliances retrench Midnight tonight sees liner shipping go through its largest reshuffle in a decade as companies jump ship from existing alliances on the main east-west trades. THE Alliance will become the Premier Alliance, with Ocean Network Express (ONE), HMM and Yang Ming Marine Transportation as partners, and Mediterranean Shipping Co (MSC) helping…

  • Premier Alliance launch delayed as US demands more details

    Premier Alliance launch delayed as US demands more details The Premier Alliance, a new Asian liner grouping, had planned to start selling bookings later this week, something that will now likely have to be put on hold following intervention from the US. The Premier Alliance is made up of members of the soon-to-disappear THE Alliance,…

  • FMC ruling stalls launch of box ship Premier Alliance

    FMC ruling stalls launch of box ship Premier Alliance The Federal Maritime Commission (FMC) on Friday issued a ruling that put on hold plans by containership operators Ocean Network Express (ONE), HMM and Yang Ming to launch the Premier Alliance this week. The FMC announced its decision the same day that ONE released details of…