On June 15, 2018, Hyundai Merchant Marine (HMM) signed the letter of intent for its mega containership orders with three shipyards—Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries.
Since HMM sent out a Request for Proposal (RFP) to shipbuilding companies on April 10, it has considered all the conditions for newbuilding, including delivery date and price of new ships suggested by shipbuilders, and finally selected three shipbuilders to sign the Letter of Intent (LoI) for 20 new vessels.
DSME and Samsung Heavy Industries will build seven and five 23,000-TEU containerships, respectively, which are expected to be delivered in the second quarter of 2020, and Hyundai Heavy Industries will construct eight 14,000-TEU containerships to be delivered in the second quarter of 2021.
HMM will negotiate further details of new shipbuilding and sign the formal contract.
