Zephyr and Boree cancel an order for innovative packages

2024-09-30T12:02:00

South Korean shipbuilder HD Hyundai Mipo Dockyard (HMD) has confirmed the cancellation of a major construction contract with French maritime start-up Zephyr & Boree.

The contract, signed in May 2023, included the construction of five innovative container ships, each with a capacity of approximately 1,300 TEU. These vessels were designed to run on methanol-fueled engines and incorporate sails, reflecting Zephyr & Boree’s commitment to sustainable shipping. The contract was valued at approximately $311 million.

Originally, the ships were to be delivered between the end of 2025 and mid-2026 and were intended for long-term charters with several French cargo ships. However, funding difficulties led Zephyr & Boree to request the contract be canceled. HMD has agreed to cancel the order, stating that it does not expect any financial loss as a result of this termination.