KMTC Line Makes Strategic Move with Newbuildings for Middle East and India Trade Routes
1 month ago
KMTC Line Makes Strategic Move with Newbuildings for Middle East and India Trade Routes
South Korean intra-Asia carrier, Korea Marine Transport Company (KMTC Line), has placed an order for the largest vessels in its 70-year history.
KMTC Line has confirmed to Container News that it has ordered two 8,700 TEU LNG dual-fuel and methanol-ready newbuildings from HD Hyundai Samho Heavy Industries, with an expected delivery in early 2027. Each vessel is priced at US$115 million, reflecting a 10% increase from similar orders made two years ago. These ships mark KMTC Line's first newbuildings since the delivery of a pair of 2,500 TEU vessels, KMTC Seoul and KMTC Dalian, in 2020.
Currently, KMTC's largest vessels are the 6,500 TEU KMTC Mundra, KMTC Colombo, and KMTC Delhi, delivered in 2020-2021. The new 8,700 TEU ships are intended to serve the carrier’s Far East-Middle East and Far East-Indian Subcontinent routes, areas where KMTC Line sees growing demand and aims to expand its capacity.
A KMTC Line representative commented, “The increasing demand in the Middle East and India has made larger vessels essential, prompting our decision to place these newbuilding orders.”
In July, KMTC Line also joined X-Press Feeders’ India-Red Sea Express 2 service, connecting India with the Red Sea, as a co-loader.
Source: Container News