By Nam Kwang-sik
SEOUL, June 29 (Yonhap) -- South Korea's largest shipper HMM Co. has signed a US$1.57 billion deal with the country's leading two shipbuilders to construct 12 container carriers, the company said Tuesday.
Under the deal with Korea Shipbuilding & Offshore Engineering Co. (KSOE) and Daewoo Shipbuilding & Marine Engineering Co.(DSME), 13,000 TEU container carriers will be delivered by the first half of 2024, HMM said in an emailed statement.
TEU, or twenty-foot equivalent unit, refers to the unit of the capacity of a container ship. A 13,000 TEU container carrier means it has a cargo capacity that can load up to 13,000 20-foot containers.
KSOE said in a regulatory filing that its subsidiary Hyundai Heavy Industries Co. will deliver six container carriers by the second half of 2024 under a 891 billion won ($788 million) deal.
In a separate regulatory filing, DSME announced its 888 billion won deal to deliver six container carriers by the second half of 2024.
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