South Korean shipping company Hyundai Merchant Marine (HMM) continues to expand its fleet while adjusting its new-vessel investment strategy to focus on ordering bulk carriers and liquefied gas carriers; the total investment in the 10 newly announced vessels exceeds $1 billion.
On June 24, HMM announced that it had placed orders for eight bulk carriers and two gas carriers. The total investment in the 10 new vessels exceeds $1 billion, with deliveries scheduled to continue through September 2031. Specific details, such as the shipyards, vessel types, and specifications, have not yet been disclosed.
HMM stated that the delivery of this batch of new vessels will enhance the company’s market competitiveness in the bulk and gas transportation sectors.
Currently, HMM is committed to achieving dual growth in fleet size and operational quality, with a focus on diversifying its vessel types and securing long-term charter contracts. As of March 31, 2026, HMM’s operational fleet totaled 154 vessels, comprising 118 owned vessels and 36 chartered vessels.
In terms of vessel types, container ships make up a significant portion of HMM’s fleet, with 95 vessels currently in operation; the company also operates 23 bulk carriers and 19 tankers. Regarding gas transport, HMM is returning to the liquefied petroleum gas (LPG) market in 2025—having previously announced its exit in 2016—and currently operates three LPG carriers. Additionally, HMM has established a joint venture with the energy trader BGN and plans to operate two newly built 88,000-cubic-meter very large gas carriers (VLGCs).
Recent reports indicate that, following orders for dozens of container ships in 2025 and 2026, HMM is adjusting its newbuilding strategy. The company has put on hold plans to finalize orders for at least 10 13,000-TEU LNG dual-fuel container ships—originally scheduled for the second half of 2026—and is shifting its business focus toward energy transportation, with a particular focus on orders for Suezmax tankers, MR tankers, VLGCs, and LNG carriers.
A few days ago, HMM signed a resale contract for four very large crude carriers (VLCCs). These new vessels are being built by Hengli Heavy Industries and were originally ordered by Hengli Group, Hengli Heavy Industries’ parent company. They will subsequently be resold to shipowners who require them and are expected to be delivered in 2029.
Including the two 310,000 DWT VLCCs ordered from HD Hyundai Heavy Industries in October 2025, HMM currently has six new VLCCs on order. Once these new vessels are delivered, the company’s VLCC fleet will grow to 20 vessels.
The announcement of newbuilding projects in the bulk carrier and liquefied gas carrier sectors confirms that HMM is adjusting the direction of its newbuilding investments. This strategic adjustment will help the company diversify its fleet composition, expand its business scope, and achieve diversified development.