South Korea’s HMM has picked Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) to construct 12 neo-panamax containership newbuildings.

The deals, worth $1.57bn, will see each South Korean shipyard build six of the 13,000-teu ships and deliver them in the first half of 2024.

Liner operator and shipowner HMM, said the neo-panamax boxships will be installed with hybrid scrubbers and will be LNG-ready.