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South Korean container carrier HMM approved an approximately US$1.62-billion investment to add 12 container ships to its fleet, expanding capacity by 114,100 TEU
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The order covers eight new 13,000-TEU vessels and four newbuilding resales: three of 2,800 TEU and one of 1,700 TEU
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Deliveries are scheduled through December 2029
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HMM did not disclose the shipyards, sellers of the resale vessels, or the propulsion and fuel configuration
South Korean container carrier HMM has approved a roughly US$1.62-billion investment to add 12 container ships to its fleet, expanding capacity by 114,100 twenty-foot equivalent units (TEU).
The company’s board approved the KRW2.168-trillion outlay on October 15, according to a regulatory filing. The investment is equivalent to 8.16 percent of HMM’s equity capital of about KRW26.57 trillion, based on its latest consolidated financial statements.
The program comprises orders for eight new 13,000-TEU containerships, which together account for 104,000 TEU. HMM will also buy four newbuilding resales – three of 2,800 TEU and one of 1,700 TEU –adding another 10,100 TEU.
All 12 vessels are scheduled for delivery by December 2029.
The company said the investment will keep its fleet competitive. The filing converts the $1.617 billion total ship price at KRW1,340.5 per dollar, the rate announced a day before the board decision. HMM said the amount may change if vessel specifications change.
HMM has yet to disclose which shipyards will build the eight larger vessels or who is selling the four resale ships. It has also not said whether the new vessels will use conventional fuel, LNG dual-fuel, or another propulsion system.
The approval follows a 2025 fleet program worth about KRW4 trillion ($2.8 billion), covering 12 LNG dual-fuel 13,000-TEU containerships and two very large crude carriers.
READ: HMM places $2.8B newbuilding order
HD Hyundai and Hanwha Ocean received the containership contracts. The latest order is separate, and its builders have not been confirmed.
Under its long-term business plan, HMM aims to have 166 container ships with a combined capacity of about 1.47 million TEU by the end of 2030. It also targets a bulk carrier fleet of 110 vessels totaling about 13.52 million deadweight tons.
READ: HMM net profit drops 37% in H1 2026
