HMM moves on $1.1bn bulker and gas carrier haul
The Korean major orders eight bulk carriers and two gas carriers as it pushes further beyond its container core.
South Korean shipping major HMM has revealed a fresh 10-ship newbuilding order as it continues to push beyond its core boxship business, disclosing a KRW1.7trn ($1.1bn) investment covering eight bulk carriers and two gas carriers.
The order is the latest move in HMM's wider expansion and diversification plan, which has taken the Seoul-listed company across containers, crude tankers, dry bulk and gas shipping. The shipyards and detailed vessel specifications were not disclosed in the English version of the exchange filing.
It follows a run of recent newbuilding activity. Earlier this year HMM was linked to 10 feeder containerships at HD Hyundai Heavy Industries in a deal worth around $550m — reported as conventionally fuelled 2,800 teu ships for delivery through 2028 — and the line also has 1,800 teu and 3,000 teu newbuildings on order at Huanghai Shipbuilding. Last month it was tied to four VLCC newbuildings at China's Hengli Heavy Industry, with the 306,000 dwt crude carriers priced at about $125m each.
The buying spree sits within a 2030 growth plan that earmarks KRW5.6trn for bulk shipping. HMM has said it aims to grow its dry bulk fleet from 36 ships to 110 vessels — about 12.56m dwt — while building a more balanced portfolio across the dry bulk and tanker markets.
