HMM bets W29tr on fleet expansion to 276 vessels by 2030

HMM plans to invest about 29 trillion won ($19.7 billion) over five years through 2030 to expand its combined fleet of container ships and bulk carriers to 276 vessels. The company aims to strengthen its deep-sea and coastal route networks and secure terminal infrastructure at key overseas hubs, sharpening its competitiveness as an integrated shipping and logistics company.

HMM disclosed the plan, titled "2026 Mid- to Long-Term Strategy," on Friday. The investment period runs from January this year through the end of 2030, with total projected spending of about 29 trillion won.

Under the plan, HMM will expand its container ship capacity to 1.47 million TEUs — one TEU being equivalent to a single 20-foot container — growing its container fleet to 166 vessels. The company intends to use that expanded capacity to strengthen a hub-and-spoke deep-sea and coastal route network and boost its competitiveness on global shipping lanes.

HMM also plans a major expansion of its bulk carrier business, growing that fleet to 110 ships with a combined deadweight tonnage of 13.52 million DWT. The strategy calls for building a stable growth foundation for the bulk segment through long-term transport contracts while improving profitability.

Alongside fleet investment, HMM will pursue port infrastructure development in parallel. The company plans to secure terminal infrastructure at key overseas growth hubs to generate synergies between vessel operations and port businesses, building a stable portfolio spanning container shipping, bulk shipping and port operations.

HMM will also direct funds toward eco-friendly investment and digital transformation in pursuit of carbon neutrality by 2045. The company plans to expand investment in green vessels and related equipment while improving operational efficiency, pursuing sustainable growth and enhanced corporate value at the same time.

The new plan represents a significant scale-up from HMM's previous mid- to long-term strategy. The company had originally set out in July 2022 to invest 15 trillion won through July 2027, and had deployed 6.5 trillion won of that by June 2024.

In September 2024, HMM extended the investment period to the end of 2030 and raised the total to 23.5 trillion won. Of that revised plan, 2.7 trillion won had been deployed through the end of last year.

HMM said the investment target in its 2026 Mid- to Long-Term Strategy is 8.2 trillion won higher than the 2024 plan.