shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » Namsung Orders More 2,500 Teu Ships As Asian Freight Volumes Soar

Namsung Orders More 2,500 Teu Ships As Asian Freight Volumes Soar

by Joshua
August 22, 2022
in Coast To Coast

Healthy freight rates for shipments to Singapore, Malaysia and Indonesia have convinced South Korean intra-Asia carrier Namsung Shipping to order more containerships to meet the rising demand.

NAMSUNG

Namsung confirmed to The Loadstar today it had ordered a pair of 2,500 teu ships fitted with scrubbers from compatriot shipbuilder Hyundai Mipo Dockyard, costing $43m each.

Currently, freight rates for shipments from South Korea to Singapore, Malaysia and Indonesia are averaging between $1,100 and $1,200 for a 20ft container – a nine-fold increase on pre-Covid levels.

The booming e-commerce market in South-east Asia stimulated demand for container shipping, creating profits for all South Korean carriers last year.

The ships ordered by Namsung will be fitted with scrubbers as the company wants to power the vessels with high-sulphur fuel oil, significantly cheaper than cleaner fuels. Korea Development Bank, Export-Import Bank of Korea and Korea Ocean Business Corp are expected to provide loans to fund the deal, which follows commissions for a similar pair at HMD in November. At that time, the cost was $41m each.

Read Also:  19 Ships Discharge Petrol , Other Items At Lagos Ports

These will be delivered in mid-2023 and be deployed on the South Korea-Singapore-Malaysia-Indonesia route. In February, Namsung’s closest rival, Sinokor Merchant Marine, ordered similar ships from HMD, intending them for the same route.

Namsung now has ten ships on order, including three of 1,600 teu, jointly ordered with subsidiary Dong Young Shipping and compatriot peer Dongjin Shipping, in April 2021. These ships are expected to be delivered late next year and Dong Young will operate one of the vessels.

Once all the newbuildings are delivered, Namsung’s owned fleet will comprise 29 vessels. With eight chartered vessels, the carrier is now ranked the 42nd-largest liner operator, with an operating capacity of 28,800 teu.

shippingposition

Kindly like us on Facebook/twitter


Tags: Namsung

Related Posts

Mawani Grants SGP Four 20-Year Port Concessions

Mawani Grants SGP Four 20-Year Port Concessions

June 30, 2025
Ningbo-Zhoushan Container Volumes Hit New Record In H1

Ningbo-Zhoushan Container Volumes Hit New Record In H1

June 30, 2025
IMO Agrees To Start Revision Of Outdated Regulations For Nuclear-Powered Ships

IMO Agrees To Start Revision Of Outdated Regulations For Nuclear-Powered Ships

June 30, 2025
Ships Near Hormuz Sending Unusual Messages to Deter Attacks

Ships Near Hormuz Sending Unusual Messages to Deter Attacks

June 30, 2025

Latest News

NPA Bags NASS PAC Transparency Award

NPA Bags NASS PAC Transparency Award

July 12, 2025

Nigeria Customs Says Claim Of Form ‘M’ Migration Charges False

CRFFN Showcases Reform Milestones, Dismisses Court Ruling Misinterpretation

NCMDLCA Faction Distances Self from Amiwero’s Court Action, Backs CRFFN on POF Collection

Customs Intercepts ₦9.2bn Worth of Fake Bedroom Booster, Others

Customs, NAFDAC Inaugurate Implementation Committee for 2024 MoU

Nigeria Customs Intercepts Container with Over 10,000 Donkey Genitals

Senate Hails Adeniyi’s Election as WCO Council Chair, Says It’s  a Major Win for Nigeria’s Global Trade Leadership

Oyetola Launches Door-to-Door’ Diplomacy for Nigeria’s IMO Council Bid

FG Urged To Link Warri-Itakpe Rail To Inland Ports, Road Networks

Red Sea Operation Rescues 4 More From Cargo Ship Sunk By Houthis

Shippers’ Council Set to Establish Border Information Centre at Idiroko, Bolster Trade Efficiency

kindly like our Facebook page

Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert
Health

Contraceptive Pills Can’t Cause Cervical Cancer – Expert

June 30, 2025

Mrs Roseline Akinlabi, Adolescent and Youth Sexual Reproductive Health Desk Officer, Osun Primary Healthcare Board, says contraceptive pills cannot cause...

ONIONS: The Good Old Healing Vegetable

KNOW YOUR BODY PARTS: The Liver

June 16, 2025
ONIONS: The Good Old Healing Vegetable

ONIONS: The Good Old Healing Vegetable

June 16, 2025
Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

Why Prostate Disorder Cases Are Increasing Among Nigerian Men – Experts

June 1, 2025
20m Nigerians Live With Mental Health Issues, Says WHO

20m Nigerians Live With Mental Health Issues, Says WHO

June 1, 2025
Health Facts You Didn’t Know

How Your Habit Affects Fertility

May 19, 2025
Fruits For Raining Season

Fruits For Raining Season

May 19, 2025
See Mental Illness Like Other Treatable Diseases – Says Suicide Survivor

Health Facts You Didn’t Know

May 19, 2025
Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

Alligator Pepper: Benefits, FAQ, Side Effects, & Warning

April 28, 2025
Water And Health: The Relationship That Helps Life

Water And Health: The Relationship That Helps Life

April 28, 2025

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition