Hanjin Heavy Adds Four Capesize BCs for HMM

Hanjin Heavy Industries and Hyundai Merchant Marine Co. (HMM) yesterday entered into a shipbuilding contract for the construction of four Capesize bulk carries.

HMM said in its regulatory filing that it has ordered four 150,000 DWT vessels that will transport coal intended for power generation. The contract is estimated to be worth around $184.7 million.

The delivery of the vessels will begin in 2015 with the last vessel to be delivered by July 2016.

The order for new vessels comes after Hyundai Merchant Marine won a long-term contract last month with Korea Midland Power to deliver 1.2 million tonnage of coal each year for 15 years. This was HMM’s second deal with Korea Midland Power, the first contract was agreed in May 2011, and was for the delivery of 12 million tons of coal between 2011 and 2023.

[mappress]
Shipbuilding Tribune Staff, July 11, 2013