SIMIC

Hyundai Heavy Industries (HHI), Samsung Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and HJ Shipbuilding & Construction said they had provided their best prices for methanol-fuelled ships for delivery in 2025 to 2026. Based on similar recent orders, 8,000-TEU newbuild prices are in the region of US$95 million each, according to London's Loadstar.

A spokesperson for HMM said the order was part of its medium-to-long-term strategy of expanding its boxship fleet to 1.2 million TEU by 2026, from 820,000 TEU.

In July, HMM ordered three 1,800 TEU ships from HHI subsidiary Hyundai Mipo at $35.5 million each for delivery in 2024, and last year split orders for a dozen 13,000 TEU ships equally between HHI and DSME.

Methanol is one of the fuel options several shipowners are considering to comply with the global target of decarbonization by 2050, as it is thought to be easier to store and transport than LNG.

Ships in the 7,000-8,000 TEU range have been sought after by various operators looking to increase capacity in mid-haul lanes, such as the Far East-Persian Gulf. Last week, container shipping consultancy Alphaliner noted that liner operators were planning more newbuild orders, despite the orderbook comprising more than 30 per cent of the active fleet and freight rates rapidly evaporating from historical peaks.