Korea Marine Transport Co (KMTC), a South Korean maritime transport operator, has entered the Chinese shipbuilding market for the first time and ordered six container ships with a capacity of 3,100 TEU from CSSC Huangpu Wenchong.
Contract Details and Ship Features
The Seoul-based company signed the relevant contracts in Guangzhou, with China Shipbuilding Trading also involved in this agreement. The six ships to be built under this contract will provide a total capacity of 18,600 TEU and have been modified based on an interior design developed by Huangpu Wenchong to meet KMTC's operational needs.
The builder has not yet disclosed the contract value, delivery schedule, or engine specifications. This agreement marks KMTC's first new order at a Chinese yard and its first contract with China State Shipbuilding Corporation.
History of KMTC's Cooperation with Shipyards
KMTC has traditionally relied on South Korean shipyards to expand its fleet and has had a close relationship with HD Hyundai. Earlier this year, the company was linked to an order for up to six 1,800 TEU container ships at HD Hyundai shipyards, valued at approximately 372.4 billion won (equivalent to 258 million dollars). The delivery of these ships is scheduled between August 2027 and June 2028.
KMTC has also been moving towards larger container ships. Last year, the operator signed a contract for four 13,000 TEU ships at HD Hyundai, with the contract value estimated at around 600 million dollars. This investment comes after KMTC's return to the trans-Pacific market after four decades of absence and has helped expand its services related to Asia and Mexico.
For Huangpu Wenchong, the recent agreement adds another international customer to its container ship order book. This CSSC-controlled builder supplied four 3,100 TEU Honghu series ships from a regional Thai shipping line in September, bringing the total number of orders at this yard to 16 ships of various sizes.
