BUSAN, South Korea – HMM, a leading global shipping company, has announced the introduction of two new 7,700 TEU container ships powered by liquefied natural gas (LNG). The vessels, named HMM Ocean and HMM Sky, were officially named at HJ Shipbuilding in Yeongdo, Busan, on Monday and are scheduled to enter service in January next year.
These new ships represent a significant step forward in HMM's commitment to reducing its environmental impact. As the first LNG-powered container ships in South Korea, they are designed to meet the increasingly stringent carbon emission regulations. LNG-powered vessels can significantly reduce emissions of carbon dioxide by 30%, nitrogen oxides by 85%, and sulfur oxides and particulate matter by 99%.
The HMM Ocean and HMM Sky were ordered by Greek shipping company Navios from HJ Shipbuilding and will be operated by HMM on a 14-year time charter. Starting in January, they will be deployed on HMM's independent Far East-Mediterranean (FIM) service, connecting Busan, China, India, and the Mediterranean.
The shipping industry is facing increasing pressure to reduce its carbon footprint, driven by regulations such as the European Union's Emissions Trading System (ETS) and the International Maritime Organization's (IMO) fuel regulations. Carriers that fail to comply with these regulations risk being unable to operate, making environmentally friendly vessels a crucial competitive advantage.
HMM has already ordered nine methanol-powered vessels from HD Hyundai Heavy Industries and HJ Shipbuilding, which are scheduled for delivery starting next year. In its recently announced "2030 Mid-term Investment Plan," the company pledged to invest a total of 23.5 trillion won, with 14.4 trillion won earmarked for enhancing its environmental competitiveness, including net-zero initiatives.
"The newly delivered LNG-powered vessels will make a significant contribution to HMM's operations," said Kim Kyung-bae, CEO of HMM. "We are committed to achieving our goal of carbon neutrality by 2045."
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