HJSC bags order for methanol-ready boxship quartet from European shipowner

South Korean shipbuilder HJ Shipbuilding & Construction (HJSC) has signed a contract with a European shipowner to build four 7,900 TEU methanol-ready containerships.

As informed, the ships ordered are 7,900 TEU container vessels, each measuring 272 meters in length and 42.8 meters in width and capable of a speed of 22 knots.

They feature eco-friendly equipment and a twin-island design, which separates the living quarters from the engine room, positioning the living space at the center of the ship. According to the shipbuilding company, this design optimizes fuel efficiency and maximizes container capacity.

To comply with the International Maritime Organization (IMO) regulations on sulfur oxide (SOx) emissions, the containerships will be fitted with scrubbers. They will also be built as methanol-ready vessels, allowing for carbon-neutral operations in the future.

Data from Intermodal Shipbrokers suggest that the company behind the order is TMS Group, owned by Greek shipowner George Economou.

The containerships will be built at the Yeongdo Shipyard in Busan and are set to be delivered progressively starting in 2026.

HJSC disclosed that the value of the agreement is KRW 606.7 billion ($429 million). This deal mirrors a similar contract the multinational shipbuilder won in June with another European client for four 7,900 TEU containerships.

Recently, containership orders have been increasing due to higher shipping rates and increased competition among global shipping companies, contributing to a rise in ship prices.

According to UK-based maritime and shipping research firm Clarksons, the cost of the vessels has surged by more than 30% over the past two years. Additionally, there is consistent demand for replacing aging vessels, which is further fueling orders for eco-friendly ships.

HJSC has been focusing on next-generation, sustainable shipbuilding technologies, including the successful development of liquefied natural gas (LNG) dual-fuel containerships and carbon capture and storage (CCS) containerships.

“This contract was made possible by the combination of our container shipbuilding expertise and eco-friendly technology meeting the needs of the shipowner,” an official from HJSC stated.