World News
HMM Orders Eight LNG Dual-Fuel Boxships
South Korean shipping company HMM has ordered eight LNG dual-fuel container ships from HD Hyundai in a contract worth approximately KRW 2 trillion ($1.4 billion).
The vessels, each with a capacity of 13,000 TEU, will be built by HD Hyundai Heavy Industries and HD Hyundai Samho, with deliveries scheduled to begin in 2029, the firm said in an announcement today.
HMM plans to deploy the new ships on its Far East-India-Mediterranean service to improve operational efficiency on the trade route.
The company has also acquired four feeder vessels through resale agreements, comprising three 2,800 TEU ships and one 1,700 TEU ship.
These will support regional feeder networks connected to major hub ports as HMM seeks to strengthen its hub-and-spoke network.
The latest acquisitions bring HMM's total investment this year in fleet expansion, logistics infrastructure and future technologies to approximately KRW 6 trillion.
LNG is seen as a more mature and widely available marine fuel than methanol.
However, methane slip reduces its climate benefits. Bio-LNG offers a cleaner option and can be used in existing LNG-fuelled ships.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 934.00 | 20.50 | 1272.50 | 18.50 |
| Rotterdam | 755.50 | 15.00 | 1403.00 | 10.50 |
| Houston | 780.50 | 13.00 | 1408.50 | 24.00 |
| Fujairah | 973.00 | 6.00 | 1638.00 | 31.50 |
| Global 20 Ports Average | 911.50 | 8.00 | 1532.50 | 7.50 |
| Global 4 Ports Average | 861.00 | 14.00 | 1430.50 | 21.50 |
| Global Average Bunker Price | 958.50 | 4.00 | 1599.00 | 2.00 |
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