The South Korean shipping company HMM is pressing ahead with the expansion of its container fleet. The company has approved an investment programme worth around $1.6 billion covering twelve additional container ships. The programme is scheduled to be completed by the end of 2029
HMM plans to invest a total of KRW 2.168 trillion (approximately $1.62 billion) in expanding its fleet, according to a recent stock exchange announcement. The investment programme has been approved by the company’s board of directors.
The company plans to order eight container ships, each with a capacity of 13,000 TEU. In addition, it will take delivery of four newbuilds currently under construction. These comprise three vessels with a capacity of 2,800 TEU each and one vessel with a capacity of 1,700 TEU.
In total, the investment programme covers twelve vessels with a combined capacity of 114,100 TEU. The investments are scheduled to be completed by December 2029. HMM has not yet disclosed details of the shipyards involved, propulsion systems or exact delivery dates.
Fleet expansion by 2030
The investments form part of HMM’s long-term growth strategy. The company aims to operate a container fleet of 166 vessels with a total capacity of approximately 1.47 million TEU by 2030.
HMM had previously announced substantial investments in additional vessel capacity. The latest decision will further expand its fleet, particularly in the medium-sized container ship segment.
The eight planned 13,000 TEU vessels are intended to increase capacity on major international trade routes, while the four smaller newbuilds could primarily be deployed on regional routes and feeder services. It remains unclear when the relevant construction and purchase contracts will be signed.
HMM ranks eighth among container shipping lines
According to figures from Alphaliner, HMM ranks eighth among the world’s largest container shipping lines, with a fleet capacity of 1,034,348 TEU and a market share of 3%. This places the South Korean company behind Evergreen Line (2.04 million TEU) and ahead of Yang Ming (771,280 TEU).
With the latest investments, HMM aims to further strengthen its position in international container shipping.
