IN what has been described as one of the worst kept secrets in the shipping industry, Danish shipping giant Maersk has exercised the options for four additional 16,000 TEU container ships from Hyundai Mipo shipyard as part of its order for twelve new vessels capable of operating on methanol originally announced in August 2021.
Hyundai Heavy Industries (HHI), the publicly traded company that owns the shipyards in South Korea, also made a brief filing with the Korean Stock Exchange acknowledging the order for four containerships due for delivery during the first five months of 2025.
Eight similar vessels ordered in August last year are due for delivery in the first quarter of 2024.
The filing only mentions an "European shipowner", and comes as part of a confirmation from Korea Shipbuilding & Offshore Engineering (KSOE) of a strong start with orders for 2022.
The deal is worth close to KRW840 billion (around US$700 million), KSOE - the shipbuilding holding company of HHI - said in the regulatory filing.
Maersk told Singapore's Splash 247 that the four newbuildings will replace a similar amount of its fleet capacity that is reaching end-of-life.
"Once fully phased in, the 12 vessels will generate a total annual CO2 emissions savings of 1.5 million tonnes, or 4.5 per cent of total Maersk fleet emissions, and offer Maersk customers truly carbon neutral transportation at scale on the high seas," the company said.
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