AIRLINK 72.80 Increased By ▲ 0.62 (0.86%)
BOP 5.06 Increased By ▲ 0.13 (2.64%)
CNERGY 4.33 Decreased By ▼ -0.02 (-0.46%)
DFML 30.52 Increased By ▲ 2.03 (7.13%)
DGKC 85.95 Increased By ▲ 4.65 (5.72%)
FCCL 22.35 Increased By ▲ 0.85 (3.95%)
FFBL 33.22 Increased By ▲ 0.17 (0.51%)
FFL 9.78 Decreased By ▼ -0.08 (-0.81%)
GGL 10.40 Decreased By ▼ -0.08 (-0.76%)
HBL 113.62 Decreased By ▼ -0.38 (-0.33%)
HUBC 136.20 Decreased By ▼ -3.80 (-2.71%)
HUMNL 10.03 Increased By ▲ 1.00 (11.07%)
KEL 4.66 Decreased By ▼ -0.07 (-1.48%)
KOSM 4.40 Increased By ▲ 0.02 (0.46%)
MLCF 38.35 Increased By ▲ 0.70 (1.86%)
OGDC 133.40 Decreased By ▼ -0.30 (-0.22%)
PAEL 27.40 Increased By ▲ 1.80 (7.03%)
PIAA 24.76 Increased By ▲ 0.78 (3.25%)
PIBTL 6.55 Increased By ▲ 0.07 (1.08%)
PPL 121.21 Decreased By ▼ -1.41 (-1.15%)
PRL 27.15 Increased By ▲ 0.08 (0.3%)
PTC 13.89 Increased By ▲ 0.29 (2.13%)
SEARL 60.40 Increased By ▲ 3.78 (6.68%)
SNGP 68.53 Decreased By ▼ -0.71 (-1.03%)
SSGC 10.33 Decreased By ▼ -0.01 (-0.1%)
TELE 9.05 Increased By ▲ 0.60 (7.1%)
TPLP 11.26 Decreased By ▼ -0.02 (-0.18%)
TRG 65.70 Increased By ▲ 4.49 (7.34%)
UNITY 25.25 Decreased By ▼ -0.08 (-0.32%)
WTL 1.50 No Change ▼ 0.00 (0%)
BR100 7,608 Decreased By -22.2 (-0.29%)
BR30 25,091 Increased By 100.6 (0.4%)
KSE100 72,658 Increased By 56.2 (0.08%)
KSE30 23,383 Decreased By -155.9 (-0.66%)
Business & Finance

World's biggest container ships take shape in South Korea

  • Similarly the Korean shipping industry was plunged into turmoil by the collapse of Hanjin Shipping, once one of the world's top 10 container lines, which was declared bankrupt in 2017.
Published August 12, 2020

GEOJE: On the bridge of one of the world's biggest container ships, a worker in a grey protective suit installs the compass that will guide the leviathan across the world.

The finishing touches are being put to the HMM St Petersburg at the Samsung Heavy Industries shipyard on the island of Geoje, at the southern tip of South Korea.

Deep in the bowels of the enormous vessel, welders are dwarfed by the giant engines that will propel it at a maximum speed of over 22 knots.

At 400 metres (1,300 feet), the HMM St Petersburg is 100 metres longer than the Eiffel Tower is tall, and 62 metres wide.

It has a capacity of 23,820 TEU (twenty-foot equivalent units, the standard measure of a shipping container), which owner Hyundai Merchant Marine (HMM) describes as enough to carry seven billion choco-pies, a popular Korean snack -- one for every human being on the planet.

It is the 12th and last of a new class of 24,000-TEU vessels HMM is putting into service, the largest of their kind in the world and costing 170-180 billion won ($143-151 million) each.

The first of the class to begin operations, the 23,964-TEU HMM Algeciras, made its maiden voyage in April when it set a new world record for shipment volume.

The South's shipbuilding industry is one of the world's biggest and was one of the drivers of its decades of economic growth, but in recent years has been hammered by global oversupply and cheaper competition from China.

Similarly the Korean shipping industry was plunged into turmoil by the collapse of Hanjin Shipping, once one of the world's top 10 container lines, which was declared bankrupt in 2017.

HMM St Petersburg will be delivered in September and make its maiden voyage to Shanghai and other Chinese ports, before heading through the Suez Canal to Rotterdam, Hamburg, Antwerp, and London.

The journey from South Korea to Europe and back is a 12-week round trip, but despite its size and the distance covered, the vessel will have a crew of just 23.

Comments

Comments are closed.