Following the delivery six 10,055 TEU ships from Zodiac Maritime, South Korea’s Hyundai Merchant Marine (HMM) is set to implement ships of 10,000 TEU to its Far East-US East Coast trade routes, which brings the total number of operational ships above 10,000 TEU to 16, according to IHS Fairplay.
An unnamed HMM representative said: “The lower slot costs of ultra-large container ships are key elements that enable a shipping line to enjoy a leading position.
“As we take delivery of the six ships, the gradual upsizing of our fleet will reduce our unit costs and spur the strengthening of our competitiveness.”
In a previous article by PTI, it was reported that HMM was looking to dominate the Far East-Middle East trades by taking advantage of the recent sanctions lifts in Iran.
This, along with recent reports that it could be set to join Maersk and MSC’s 2M alliance, could provide more certainty and financial stability in a volatile and unpredictable market.
HMM was also recently announced as the first global carrier to accept container weights provided by terminals at US ports.
The container weighing issue is of significance to ports, terminals, carriers and shippers globally, after the rule was implemented on July 1, 2016.