South Korean shipping major HMM is preparing an order for new containerships powered by alternative fuels as part of its future growth strategy.

The strategy was announced in July this year with HMM assigning $11.3 billion for future investments, including expansion of its eco-friendly ships from the current 820,000 TEU to 1.2 million TEU by 2026.

The likely candidates to build the vessels will be Korean shipbuilding heavyweights in line with the Korean government’s strategy to interlink its shipping and shipbuilding sectors securing work for its shipbuilders as the maritime industry pushes forward in building green ships.

Specifically, the company has reportedly invited tenders from four of its compatriot shipbuilders: Hyundai Heavy Industries (HHI), Samsung Heavy Industries (SHI), Daewoo Shipbuilding and Marine Engineering (DSME), and HJ Shipbuilding and Construction. The shipyards have been asked to provide their best prices for a batch of up to nine 8,000 TEU methanol-fuelled vessels slated for delivery between 2025 and 2026.