South Korean shipping giant HMM is accelerating its fleet expansion. HMM plans to expand its container fleet by 12 vessels through a combination of “investing in newbuilds and acquiring ships under construction,” with the goal of growing its container fleet from the current 73 vessels to 166 by 2030.
On October 15, HMM disclosed via the Korea Exchange that it intends to order eight 13,000 TEU container ships and acquire four newbuilds via resale (comprising three 2,800 TEU vessels and one 1,700 TEU vessel). The total investment for these vessels is approximately $1.617 billion, and the project has already been approved by HMM’s board of directors.
According to the announcement, all these vessels are expected to be delivered by December 31, 2029. Specific details regarding the shipyards for the eight new orders, as well as the sellers and shipyards for the four resale vessels, have not been disclosed. Once fully delivered, these additions will increase HMM’s container fleet capacity by 114,100 TEU.
It is understood that this investment plan for 12 container ships is the latest move by HMM to implement its “2026 Mid-to-Long-Term Strategy.” Under this strategy, the company plans to invest approximately 29 trillion KRW (about $21.712 billion) by 2030 into areas such as its fleet, ports, and logistics infrastructure. The goal is to expand its container fleet from the current 73 vessels to 166, and its bulk carrier fleet from 50 vessels to 110.
Since the announcement of its “2026 Mid-to-Long-Term Strategy” in 2024, HMM has made several moves in the market for new container ship construction. Including its most recent investment plans, HMM has placed orders for over 40 container ships. Of these, the shipyards for 34 vessels have been confirmed, including eight 13,000 TEU-class LNG dual-fuel container ships and ten 2,800 TEU container ships to be built by HD Hyundai’s shipyards; four 13,000 TEU-class LNG dual-fuel container ships by Hanwha Ocean; and five 2,000 TEU container ships plus seven 3,000 TEU container ships by Huanghai Shipbuilding. These new vessels are scheduled for delivery between 2028 and 2029.
Beyond its container shipping business, HMM is simultaneously expanding into other vessel segments. This includes orders for eight 210,000 DWT tri-fuel bulk carriers from Yangzijiang Shipbuilding, two 90,000 cbm very large gas carriers (VLGCs) from HD Hyundai Samho, and two 310,000 DWT very large crude carriers (VLCCs) from HD Hyundai Heavy Industries.
According to Alphaliner data, HMM is the world’s eighth-largest liner company, holding a market share of approximately 3%; its current fleet comprises 97 container ships with a total capacity of around 1 million TEU, and it has an orderbook of over 30 container ships.