Successfully completed! Samsung Heavy Industries delivers the last 24000 TEU containership

2020-09-15 09:00

As a key component of South Korea's plan to revitalize its maritime industry, the delivery and commissioning of HMM's (formerly Hyundai Merchant Marine) final 24,000 TEU ultra-large container ship, the "HMM St. Petersburg," marks the successful completion of HMM's project to build a total of 12 of the world's largest container ships.

The "HMM St. Petersburg" was built by Samsung Heavy Industries' Geoje shipyard. It is the last of HMM's series of twelve 24,000 TEU ultra-large container ships, named after the Russian port city of St. Petersburg. On September 11, the "HMM St. Petersburg" was successfully delivered, setting sail from Busan, South Korea's largest port city. It is scheduled to call at Asian ports including Ningbo, Shanghai, and Yantian, before transiting the Suez Canal and heading to Europe.

This series of 24,000 TEU vessels are the world's largest container ships. Approximately 400 meters long, 61 meters wide, and 33.2 meters high, they have a deck area nearly four times the size of a football field. With a maximum speed of 22.5 knots, a crew of 23, and a capacity to carry up to 23,964 standard containers, they set a new world record for the largest container ship, surpassing even MSC Gulsun's capacity by 208 TEU.

According to South Korean media, HMM named its newly built 24,000 TEU ultra-large vessels after major European ports such as Rotterdam, Hamburg, and Copenhagen. This symbolic gesture demonstrates HMM's commitment to regaining its competitive edge on European routes and revitalizing South Korea's once-powerful shipping industry.

In 2018, to support the South Korean government's "Five-Year Maritime Reconstruction Plan," HMM ordered a total of 20 ultra-large, environmentally friendly container ships from South Korea's three major shipbuilders, for a total value of approximately US\$2.834 billion. Of these, Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries would build 12 24,000 TEU container ships for Hyundai Merchant Marine (7 by Daewoo and 5 by Samsung); Hyundai Heavy Industries would build 8 15,000 TEU container ships, scheduled for delivery in the second quarter of 2021.

HMM's 12 24,000 TEU container ships will operate on THE Alliance's newly revised Asia-Northern Europe FE4 route. Starting April 1, HMM officially joined THE Alliance as a full member, marking the official launch of the new THE Alliance. With these 12 new ships, HMM will increase its current fleet capacity of 450,000 TEU by an additional 288,000 TEU, becoming the world's eighth-largest container shipping company.

Meanwhile, HMM announced that thanks to its collaboration with THE Alliance and the deployment of its 24,000 TEU ultra-large vessels, the company successfully returned to profitability in the second quarter of this year, with a net profit of 28.1 billion won, compared to a net loss of 200.7 billion won in the same period last year. This marks HMM's first profit in 21 quarters, after 20 consecutive quarters of losses.

At the naming ceremony for HMM's first 24,000 TEU vessel, the "HMM Algeciras," in April, South Korean President Moon Jae-in announced South Korea's goal of becoming one of the world's top five maritime powers again. At the time, President Moon stated that this container ship "sent a signal to the world of South Korea's maritime reconstruction" and that "with the help of the world's largest container ship, the South Korean shipping industry will be revived."

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