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Cash-rich HMM outlines $11.45bn expansion plan

South Korean flagship carrier HMM has laid out a massive spending plan through to 2026 that will see its box fleet grow by nearly 50%, while its bulk fleet will just about double in size.

The KRW15trn ($11.45bn) outlay over the coming four years, detailed today, will grow HMM’s boxship fleet from today’s 820,000 slots to 1.2m, while its bulk fleet is set to grow from 29 vessels to 55. Other acquisitions will include terminals and logistics facilities.

Kyung Bae Kim, HMM president and CEO, said: “Our strategy is to ensure perpetual growth of HMM under the new vision – a global leading company generating sustainable value for the world.”

Having skirted with bankruptcy six years ago, HMM has become cash-rich like all global liners during container shipping’s epic bull run through the pandemic. Its most recently published results from Q1 set a new record for the 45-year-old company with a $2.4bn net profit.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.


  1. It will be interesting to see what mix of these ships are new versus old. Did the company specify?

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