South Korea’s Namsung Shipping has returned to Hyundai Mipo Dockyard (HMD) for more feeder container ship newbuildings.
The liner company has booked two 2,500-teu newbuildings at the Ulsan-based shipyard, lifting its tally to four. The earlier vessels were ordered in October 2021.
Officials at HMD declined to comment on the shipyard’s newbuilding activities citing contract confidentiality. Namsung did not reply to emails seeking confirmation on the pair of newbuildings.
Shipbuilding sources familiar with Namsung said the company signed up for the pair of newbuildings last month and the vessels cost more than earlier ships due to rising shipbuilding materials and inflations.
Namsung was said to be paying around $45m each for the container ships which are scheduled to be delivered in July and September 2024.
The company’s earlier container ships were reported to cost close to $41m apiece and they are due to roll out of the drydock in October and December 2023.
Besides the HMD’s newbuildings, Namsung also has a pair of 1,000-teu vessels under construction at Dae Sun Shipbuilding & Engineering. It signed up for the duo early this year at a reported price of close to $22m each.
Dae Sun is expected to deliver one vessel next year and the other in 2024.
A shortsea liner carrier, Namsung controls 19 vessels of between 710-teu and 1,800-teu. The company provides intra-Asia service routes and near-sea trade to Japan and China.
Shipbuilding players believe Namsung would be deploying the four 2,500-teu newbuildings that it ordered in HMD on the South-East Asia trade.
