President Moon's Hometown Geoje Announces Good News: "Congratulations on the World's Largest Container Ship"

Daewoo Shipbuilding & Marine Engineering Attends Naming Ceremony of 'Algeciras'... "Firing the Starting Signal for the Revival of South Korea's Shipping Industry"

[Asia Economy Reporter Ryu Jeong-min] "Although the shipping industry faced great difficulties due to the bankruptcy of Hanjin Shipping in 2017, we ultimately overcame them. Today, with the naming ceremony of the 'Algeciras' ship, we are sending a signal flare for the reconstruction of Korea's shipping industry to the world."

President Moon Jae-in, along with First Lady Kim Jung-sook, attended the naming ceremony of the world's largest container ship, 'Algeciras,' held at Daewoo Shipbuilding & Marine Engineering in Geoje, Gyeongnam Province on the 23rd, unable to hide his elated expression. President Moon delivered the good news of the reconstruction of Korea's shipping industry in his hometown, Geoje.

The Algeciras can carry 23,964 20-foot containers (approximately 6 meters in length), has a deck area larger than four soccer fields, and measures about 400 meters?100 meters taller than the Eiffel Tower. Notably, it has improved energy efficiency by more than 50% compared to the International Maritime Organization (IMO) standards and is equipped with advanced technology that allows future conversion to LNG-powered vessels. It is a mega container ship with cutting-edge features.

[Image source=Yonhap News]

This event marks the first tangible achievement of the shipping industry's reconstruction, realized through the 'Five-Year Shipping Reconstruction Plan' and the establishment of the Korea Ocean Business Corporation, initiatives launched after the inauguration of the Moon Jae-in administration.

The Blue House explained, "The ceremony was held to showcase Korea's shipping competitiveness to the world and to reaffirm the recovery of the shipping industry and our economy amid the crisis caused by COVID-19. Originally, the naming ceremony was scheduled for the end of March, but due to domestic and international circumstances related to COVID-19, it was held today. The Algeciras will depart for Qingdao, China tomorrow."

The naming ceremony included First Lady Kim Jung-sook's naming speech and ribbon-cutting, President Moon's congratulatory remarks and the crew's pledge for departure, and the presentation of the traditional compass ‘Yundo.’ First Lady Kim said, "I hereby name this ship Algeciras. I wish for the safe voyage of this ship and all its crew," as she cut the naming ribbon.

[Image source=Yonhap News]

'Algeciras' is the name of a southern Spanish port city located at the Strait of Gibraltar, the southernmost point of the European continent. It was named with the intention of regaining the lost competitiveness of the shipping industry on European routes and achieving shipping reconstruction.

The Blue House explained, "Traditionally, the naming ceremony is held at the shipyard before delivering the ship to the owner, where a woman cuts the rope attached to the ship and breaks a bottle of champagne to pray for the safe voyage of the ship and its crew battling the rough seas."

President Moon said, "Just as Admiral Yi Sun-sin overcame national crises with ‘12 ships’ over 400 years ago, these ‘12 container ships’ will revive our shipping industry and economy." The mega ships are being built by domestic shipbuilders with world-class technology: seven by Daewoo Shipbuilding & Marine Engineering and five by Samsung Heavy Industries.

The first ship, 'Algeciras,' was the first to be constructed at Daewoo Shipbuilding & Marine Engineering in Geoje, marking a new chapter in Korea's shipbuilding history. The production inducement effect of the 12 container ships is expected to reach 5.1 trillion KRW, with an employment inducement effect of 16,378 jobs.

[Image source=Yonhap News]

President Moon emphasized the need to support the shipping industry, which is facing difficulties due to the global decline in cargo volume caused by the worldwide spread of COVID-19, by alleviating existing financial burdens on shipping companies and securing new liquidity.

President Moon presented the traditional compass ‘Yundo’ for seafarers, made by Kim Jong-dae, holder of National Intangible Cultural Property No. 110, to Captain Jeon Gi-woon of the Algeciras, congratulating him on the first voyage. Prior to the naming ceremony, President Moon also attended a preliminary meeting with shipping and shipbuilding industry officials, the Deputy Prime Minister for Economy, the Chairman of the Financial Services Commission, the Minister of Oceans and Fisheries, and other government officials.

This content was produced with the assistance of AI translation services.