Sinokor Merchant Marine has signed up for 12 feeder containership newbuildings at Hyundai Mipo Dockyard (HMD) in a deal that could be worth $360m, shipbuilding sources said.

The boxship order takes the company’s total spending on newbuildings this year to around $682m.

The South Korean owner is said to have contracted compatriot HMD to build the series of 1,800-teu vessels for delivery in 2022 and 2023.