Hamburg-based asset and investment manager MPC Capital says it has clinched "attractive" yard slots for four new methanol-ready boxships in South Korea.
The 5,500-teu quartet will be delivered from the second quarter of 2023 at the former Hanjin Heavy Industries & Construction, the shipbuilder's first new order in seven years.
The yard is now known as HJ Shipbuilding and Construction (HJSC).
MPC said it has joined together with unnamed partners for the contracts.
The company added the vessels have "state-of-the-art" specifications allowing for a reduction of 40% in fuel consumption compared to existing vessels.
They will be prepared for conversion to carbon-neutral operations using green methanol.
The MPC Capital group, which is a shareholder in feeder ship operation MPC Container Ships, will provide commercial and technical management.
Demand will increase
Christian Rychly, managing director of shipping at MPC Capital, said: "We are convinced that the demand for new container ships with favourable specifications, a low consumption and high environmental ranking will increase."
"The orderbook in this size segment is fairly low and 80% of the vessels in the water today are non-eco ships," he said.
He believes positive momentum in the container market continues.
"Fundamental data signal a further tightening of the supply of assets and with limited yard capacity available, the ordering of new ships with these non-replicable delivery positions in 2023 provides a very unique opportunity," Rychly said.
TradeWinds reported that MPC Capital was linked to the order in October at South Korea's oldest shipyard.
The reborn yard group said it had won a contract with a European shipowner for four 5,700-teu containerships worth a combined $260m.
It said the eco-ships will reduce emissions and save fuel compared with conventional vessels.
HJSC also said the deal illustrates its global competitiveness and normal management operations.
The yard now wants to expand into building small and medium-sized LNG carriers, LPG carriers, product tankers and aframaxes.
HJSC is making a comeback under new ownership.
The company was said to be discussions with several companies over other containership newbuildings.
The Busan shipyard had not contracted any commercial newbuildings since 2014.
A consortium led by civil engineering and construction company Dongbu Corp officially became the major shareholder of HHIC in September, with more than 66% shares after acquiring a stake from state-owned Korea Development Bank.
The value of the transaction was not disclosed.
HHIC was known for building boxships and vessels up to aframax size. But stiff competition from China and low shipbuilding prices led it to stop contracting commercial ships.
Clarksons now lists the company as now also building a dredger for the South Korean government and a seismic survey ship for the Korea Institute of Geoscience and Mineral Resources.
