HMM Invests KRW 2.9 Trillion to Expand Fleet, Targeting 1.47 Million TEU Capacity by 2030

South Korean shipping company HMM has approved a medium- to long-term fleet expansion plan with an investment budget of approximately KRW 2.9 trillion (around USD 1.97 billion). The strategy aims to strengthen HMM’s global competitiveness and support sustainable growth in the container shipping market.

Under the expansion plan, HMM will add 16 new container vessels by 2030, including seven 10,000 TEU-class ships for medium- and long-distance routes and nine vessels ranging from 11,000 to 13,000 TEU. The new fleet capacity is expected to improve operational efficiency and enhance service capabilities on major global trade routes.

Currently, HMM operates a fleet of 97 vessels, including 73 owned ships and 24 chartered vessels, with a total capacity of approximately 1.034 million TEU. In addition, the company has placed orders for 36 new container ships with a combined capacity of 221,000 TEU to further support future fleet development.

With continued investment and fleet expansion, HMM aims to increase its total container fleet capacity to 1.47 million TEU by 2030. The company expects the expansion to strengthen its position in the global shipping industry and improve its ability to respond to changing market demand.