CMA CGM pens LoI for LNG-fueled containerships

LNG Prime recently reported that CMA CGM was planning a new order.

Sources said on Tuesday that CMA CGM has decided to build the next batch of its LNG-powered vessels at HD Hyundai Heavy Industries, part of South Korean conglomerate HD Hyundai.

CMA CGM has signed a letter of intent with HD Hyundai Heavy for 12 LNG dual-fuel containerships with a capacity of 15,500 teu, the sources said.

Moreover, the price for each vessel is said to be about $205 million or about $2.46 billion for the entire order.

According to the sources, all ships would feature LNG tanks equipped with GTT’s Mark III Flex containment tech and MAN ME-GI propulsion.

The sources said that the new containerships would be similar to the 12 vessels CMA CGM ordered at HD Hyundai Heavy and HD Hyundai Samho earlier this year.

These LNG dual-fuel ships will have a capacity of 15,500 teu and will be delivered by June 2028.

HD KSOE said each order is worth about 1.84 trillion won or 3.68 trillion won for the previous 12 vessels.

This equals about $2.66 billion or some $222 million per vessel.

The LNG tanks of these vessels will have a volume of 12,700 cbm, according to France’s GTT.

This will be the first implementation of GTT’s 1 barg tank design pressure, a new standard for the use of GTT’s Mark III Flex technology in LNG fuel tanks.

Large LNG-powered fleet

CMA CGM is one of the world’s largest backers of LNG fuel, and it has set a goal of achieving net zero carbon emissions by 2050.

Pioneering the use of alternative fuels, the group has invested $18 billion in orders for 131 dual-fuel vessels, which will be operational by 2028.

Most of these container vessels, including the giant 23,000-teu LNG dual-fuel containerships, are powered by LNG.

Also, twelve of these new LNG-powered vessels joined the fleet in the third quarter of this year, CMA CGM said in its recent financial report.