South Korea’s HD Hyundai Samho has secured a potential contract to build four methanol dual-fuel container ships for Taiwan’s Wan Hai Lines, the company announced.
The two parties have signed a letter of intent (LOI), and a formal contract is expected within the month.
Each vessel will have a capacity of 8,700 twenty-foot equivalent units (TEU) and is being negotiated at a price of up to $133 million per ship.
As explained, the initial order for four ships could be worth up to $521 million, with an option for four additional vessels, potentially bringing the total contract value to 1.4 trillion won.
The ships are scheduled for delivery starting in 2027 from HD Hyundai Samho’s Yeongam shipyard.
This deal marks Wan Hai’s first order for methanol-powered container ships.
The recent increase in orders for methanol container ships is attributed to Chinese shipbuilders, rather than technological advancements, as Korean shipyards face full order books.
The high demand for container ships is not limited to major shipping companies, with smaller players also placing significant orders, according to industry sources.
In related news, Maersk recently added its third large dual-fuel methanol-powered containership to its fleet. The ship, named Antonia Maersk, was christened by Danish wind power giant Vestas during a ceremony held in Aarhus, Denmark, on August 9, 2024.
