South Korean HMM announced that it will expand cooperation with Russian transportation group FESCO. With the expansion of cooperation, the current China-Korea-Russia weekly service will be reorganized and two of new direct services connecting Korea and Russia.
Finnish technology provider Valmet said it will supply scrubbers for seven new building container vessels, to be built by DSME for South Korean shipping company Hyundai Merchant Marine. The container ships will be the largest in the world, with over 23,000 TEUs each.
As part of its efforts to comply with the 2020 sulphur cap, South Korean shipping company HMM announced the signing of a memorandum of understanding (MoU) to establish a win-win fund for scrubber installation and to seek cooperation in the shipping-related industries.
On January 30, 2019, HMM held a signing ceremony for the 'PSA-Hyundai Pusan New Port Pier 4' sales contract. This sales contract includes that the private equity fund, Yuanta-HPNT, which will acquire stakes of Waska Inc. which holds 50% stakes of PHPNT. HMM will also secure stable berths for 23,000 TEU mega containerships.
HMM finalised the contracts for its twenty eco-friendly mega containerships. Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries will construct seven and five 23,000 TEU containerships, for delivery in the second quarter of 2020. HHI will build eight 15,000 TEU containerships, for delivery in the second quarter of 2021.
South Korean Shipping company Hyundai Merchant Marine has selected three compatriot shipbuilders for the construction of its twenty eco-friendly mega container ships, under the company's ‘Capacity of 1 Million TEU’ strategy, and the Korean government’s ‘5 Year Plan for Rebuilding Korean Shipping’ plan.
South Korean shipping company Hyundai Merchant Marine has started cooperation with California-based software company Oracle, to move its data to a cloud-based system. The company revealed intentions to find a technology partner for this purpose since early 2018 and is expected to move all of its data by 2020.
In line with Korean government’s ‘5 Year Plan for Rebuilding Korean Shipping’ initiative, Korea’s national flagship carrier Hyundai Merchant Marine announced plans to order twenty eco-friendly and highly efficient mega container ships, which are considered to deploy in the Asia-North Europe and US East coast trades.
South Korean Hyundai Merchant Marine announced that it will launches a new Asia-North Europe Express service in April. HMM will use ten Panamax vessels in AEX service and its first sailing begins on April 8th. HMM has in its plans to order eco-friendly mega containerships in the 1st half of 2018.
German Hapag-Lloyd has reached an agreement with Geneva-based Mediterranean Shipping Company, the Japanese joint venture Ocean Network Express and South Korean Hyundai Merchant Marine, to restructure its Asia to West Coast of South America services, starting from 1 April 2018.