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";s:4:"text";s:3959:"What is around 400 meters long, 60 meters wide, 70 meters high and costs over $140,000,000 ($140 million)?It’s a mega ship of course, or more precisely, an Ultra Large Container Vessel (ULCV).What started out as an effort to optimise on economy and efficiency with an environmental touch on these size of ships in 2013, soon became kind of a mine-is-bigger-than-yours showboating.Between 2013 and 2019 there were 8 “largest container vessel in the world” title holders operated by some of the world’s largest container shipping lines.The increase in TEU capacity in the last 6 years within this ULCV class is around 5,964 TEU which is the size of a regular container vessel still operating in many of the world’s trades now.The First Lady of Korea, Mrs.Kim Jung-sook who served as godmother, cut the ropes and officially named the ship at a naming ceremony at DSME’s Okpo shipyard in Geoje, Korea.“HMM Algeciras” is the first of twelve 24,000 TEU class vessels scheduled to be sequentially delivered until September 2020 out of a total of 20, with the balance 8 planned for delivery from second quarter of 2021 onwards.HMM signed a formal contract in 2018 for these twenty ULCVs vessels with three shipyards – DSME (Daewoo Shipbuilding & Marine Engineering), HHI (Hyundai Heavy Industries) and SHI (Samsung Heavy Industries) in an effort seen as a proactive action towards market change along with creating a sustainable profit-generating structure.As per their official statement, HMM plans to enhance its environmental capabilities by operating these newly launched container vessels as they are equipped with scrubber systems in line with Speaking at the ceremony, Mr.Moon Jae-in, President of the Republic of Korea said “This new development comes close on the heels of the company rebranding itself from the previous “Hyundai Merchant Marine” to “HMM”, a decision that was This change brought an end to the name “Hyundai Merchant Marine” which has been in use for around 37 years from the time the company changed its name from 1983 when the company was known as “Asia Merchant Marine”.Mr.Jae Hoon Bae, President & CEO of HMM, said then that, “Earlier this year, the members of THE Alliance, Hapag-Lloyd, Ocean Network Express, and Yang Ming welcomed HMM as a new core member of THE Alliance.The “HMM Algeciras” is expected to be deployed on Far East Europe 4 (FE4) service, one of the Asia-North Europe trade lanes of THE Alliance, with its port rotation starting at Qingdao, Busan, Ningbo, Shanghai, Yantian, Suez Canal, Rotterdam, Hamburg, Antwerp, London Gateway, then Singapore via Suez Canal.The HMM Algeciras which is approximately 399.9 m long with a beam of bWhile the deployment of such ULCVs continues on one side as a part of the shipping line’s search for greater fuel efficiency and economies of scale, there are also several challenges faced by these mega ships due to It will be interesting to see the strategies that will be followed here because these ULCVs that were supposed to usher in efficiency-driven profitability are said to have become a financial albatross for the container lines especially during this Click on the topics that you need help with to find relevant articles related to your question..If you can’t find what you are looking for, enter the search term in the search bar below (and hit enter)You can interact with me via comments on the posts or via These are some of the recommended reading from among the hundreds of articles on this site.. English (EN) MarineTraffic Blog Help Centre HMM Algeciras is currently carrying a little over 19,600 containers on board. TEU is a unit measured by 20-foot containers. The current position of HMM ALGECIRAS is at Red Sea (coordinates 18.64626 N / 39.59415 E) reported 9 days ago by AIS. This content failed to load. 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