HMM orders LNG-fueled PCTCs for charter to Hyundai Glovis

South Korea’s HMM and compatriot Hyundai Glovis joined forces to order six LNG dual-fuel pure car and truck carriers from China’s Guangzhou Shipyard International (GSI).

According to a statement by CSSC’s GSI, the deal for the PCTCs with a capacity of 10,800 ceu also includes an option for four additional vessels.

This deal follows an order by Seaspan and Hyundai Glovis for six firm plus four optional LNG dual-fuel PCTCs with CSSS’s Shanghai Waigaoqiao Shipbuilding (SWS).

SWS and GSI will now each build six LNG-powered vessels, said to be the largest PCTCs under development to date, and all of the vessels will serve charter deals with Hyundai Glovis.

Besides LNG dual-fuel propulsion, the PCTCs will be ammonia and methanol-ready.

GSI did not provide delivery dates for the vessels or the price tag of the new shipbuilding deal.

CSSC Holdings said in a stock exchange that both the GSI and SWS deals are worth $1.46 billion, or some $723 million per contract.

HMM and Hyundai Glovis ink LNG PCTC deal with China's GSI
Image: GSI

Hyundai Glovis recently revealed plans to order 12 LNG dual-fuel car carriers worth about $1.84 billion.

The South Korean operator of a large PCTC fleet and the shipping unit of Hyundai Motor Group said its board approved the investment on October 26.

The firm said at the time that it expects to take delivery of the final vessel in September 2027.

Hyundai Glovis had 116 vessels in its fleet as of the end of the last year, including over 80 PCTCs, its website shows.

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