HMM Signs Charter Contract for Six 10,000 TEU Container Vessels
January 2014
On 17 December, HMM announced that it had signed a charter contract to lease
six 10,000 TEU (twenty-foot equivalent unit) container vessels from London-based
Zodiac Maritime Agencies Ltd. The six ships will be delivered progressively through
the middle of 2016, and join a fleet of HMM vessels, including those to be built by
Daewoo Shipbuilding and Marine Engineering Co., on a 12-year operating lease.
HMM anticipates that the “jumbo-izing” of container vessels will be accelerated
through this charter contract, and plans to deploy five 13,100 TEU container vessels
on its Asia-Europe line from 2014 and onwards. The new ships HMM adds through
this contract bring its total number of vessels handling cargo from Asia and Europe to 10.
Once all ships are in operation in 2016, HMM will possess 16 10,000 TEU-plus ships
as part of its fleet.
The new containerships will be deployed along the Trans-Pacific and East Coast trade,
helping to reduce cargo costs. At present, ships from Asia tend to travel to the West Coast
of the United States and disembark/pick-up at ports like Long Beach. This situation
has led to added overland shipping costs, as cargo must be moved long distances
by land when originating from the East Coast and other parts of the US.
“This agreement with one of the UK’s leading ship owner signifies HMM’s reputation for excellence abroad,” an HMM official said in a statement. “With this charter contract, our main containers will be upgraded to the 10,000 TEU level, allowing us to provide improved services to our customers.”
HMM and Zodiac have been doing business together since 2001.
Hyundai Merchant Marine Co. Ltd, press release