Maersk to buy three methanol-powered container ships from Hyundai Mipo Dockyard

In South Korea, Business Korea reports that Maersk has signed a letter of intent with Hyundai Mipo Dockyard for three 3,500 TEU methanol fuel-powered container ships with an expected value of more than $44 million each. The Korean Ministry of Oceans and Fisheries recently aligned its regulations of methanol and ethanol powered vessels to be inline with the International Maritime Organization’s rules which is expected to facilitate faster building of methanol-fueled ships. Of the 20 currently on the seas, eight were built by the Hyundai Mipo Dockyard.