French line CMA CGM is said to be pressing ahead with its decarbonisation drive by investing $2bn into a series of methanol-propelled container ships at Hyundai Samho Heavy Industries, despite freight rates collapsing.

Korea Shipbuilding & Offshore Engineering, which controls Hyundai Samho, announced that it had won a KRW 2.53trn ($2.05bn) order to construct 12 methanol-fuelled very large container ships from a European shipper.