Asia/Pacific News
Hyundai Invests Heavily in Scrubbers
Monday March 25, 2019
A fund set up by South Korean box ship operator Hyundai Merchant Marine (HMM) will be used to fund scrubber installations on 19 of its ships, the company has said.
The work will be completed by the first half of 2020.
The KRW 153.3 billion ($135 million) fund comprises KRW 46 billion from HMM with 107.3 billion from Korea Ocean Business Corporation (62.3bn) and the rest provided by a group of five other companies.
The five are including Hyundai Corporation, Hyundai Global Service, SKTI, DSEC and Panasia.
In addition to the retrofits, HMM will put scrubber equipment on 20 newbuildings, the company said.
