French operator CMA CGM has chosen South Korean shipyard Hyundai Mipo Dockyard (HMD) to build 10 ice-class vessels of 2,000 teu each.
Without identifying the customer, HMD said today in a statement to the Korea Exchange that a “European customer” had ordered 10 2,000 teu dual-fuel (LNG-fueled) containerships for a total contract value of $627 million.
HMD said the vessels would be delivered by the end of September 2024.
CMA CGM is believed to be looking at Chinese and South Korean yards to build the vessels, which are the most expensive 2,000 teu ships ever.
The high cost is due to the specifications; CMA CGM has asked for high-pressure MEGI engines and for the fuel tanks to be mounted on deck.
CMA CGM could deploy the vessels in the Baltic Sea, following CEO Rodolphe Saade’s promise that the company’s ships will not transit Russia’s Northern Sea Route, due to environmental concerns.
The order for new ships was made public a day after CMA CGM posted a third-quarter net profit of $5.6 billion, making it the most profitable liner shipping operator in the period.
The delivery of 13 newbuildings this year has moved CMA CGM back above Chinese state-owned carrier Cosco to third place, in terms of capacity, with a current margin of 150,000 teu, at 3.1 million teu.
The French company has also been actively buying second-hand vessels, acquiring 49 vessels of 800,000 teu in the last 15 months.
CMA CGM has also launched an airfreight division with four Airbus A330-200Fs, and has ordered four A350F aircraft.
