HMM to invest 1.7 trillion won in 10 bulk and gas carriers to diversify fleet

HMM is ordering 10 new vessels — eight bulk carriers and two gas carriers — in a move aimed at broadening its fleet beyond container shipping and boosting its competitiveness in the bulk segment.

The company disclosed the new facility investment Wednesday, announcing the orders through a regulatory filing.

The investment totals 1.6641 trillion won ($1.08 billion), equivalent to 6.26 percent of HMM's consolidated equity of 26.5713 trillion won as of the end of last year. The company described the purpose of the investment as "strengthening bulk fleet competitiveness."

The investment period runs from Wednesday through Sept. 30, 2031, with final delivery of the vessels scheduled for the third quarter of 2031.

HMM plans to accelerate its bulk business expansion through the orders. In the shipping industry, the timing of vessel acquisition and the securing of long-term contracts are key drivers of profitability, making fleet composition — calibrated to medium- and long-term cargo volumes and freight rate trends — a critical strategic consideration.

"Strengthening the bulk business is part of our effort to pursue both quantitative and qualitative growth through structural improvements, including fleet diversification and the expansion of long-term contracts," an HMM official said. "We will continue to invest to secure vessels at the right time."