HMM (011200.KS), Korea's largest shipping company, will place a newbuild order for 10 vessels, including eight bulk carriers and two gas carriers, worth 1.6641 trillion won. The investment amount corresponds to 6.26% of its equity capital of 26.5713 trillion won.
HMM explained that the investment was a decision to strengthen the competitiveness of its bulk carrier fleet. The company aims to take delivery of all vessels by the third quarter of 2031.
As of the end of the first quarter this year, HMM operates a fleet of 118 vessels, comprising 71 container ships and 47 bulk carriers, making it Korea's largest shipping company. This fleet can handle 1.52 million TEU of containers and 9.6 million MT of bulk cargo.
"Strengthening the bulk business is part of pursuing both quantitative and qualitative growth through structural improvements such as diversifying vessel types and expanding long-term contracts," an HMM official said. "We plan to continue securing vessels in a timely manner through ongoing investment."
