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[BUSINESS] · South Korea · 2 sources

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Part of situation: South Korean container shipping expansion (3 clusters)

HMM approves $1.6 billion investment in 12 container ships

HMM container ships fleet expansion shipping industry TEU capacity

South Korean container line HMM has approved a $1.62 billion investment to expand its fleet with 12 new vessels. The investment, totaling approximately 2.168 trillion won, was approved by the company's board.

The expansion includes eight newbuild ships with a capacity of 13,000 TEU each, as well as the acquisition of four smaller vessels through resale transactions: three 2,800 TEU ships and one 1,700 TEU ship. These additions are expected to increase the company's total capacity by 114,100 TEU, with deliveries projected to be completed by December 2029.

This move is part of HMM's broader strategic plan to grow its container fleet to 166 ships and a total capacity of 1.47 million TEU by the end of 2030. This long-term goal is supported by a larger KRW 29 trillion (US$22 billion) investment program aimed at developing a hub-and-spoke network.

Entities

HD Hyundai Heavy Industries · HMM · Hanwha Ocean

Sources

HMM ulaže 1,6 milijardi dolara u još 12 kontejnerskih brodova [pomorstvo.info]
HMM approves $1. 6b investment in new ships [www.bairdmaritime.com]