HMM plans to invest $20 billion by 2030 to expand its fleet and terminals, focusing on feeders instead of ultra-large vessels, reports Journal of Commerce.
South Korea's largest ocean carrier will invest about US$20 billion through 2030 to expand its container fleet and overseas terminals, shifting focus away from ultra-large vessels, reports New York's Journal of Commerce.
The new five-year plan, approved at a board meeting on Friday, calls for building up feeder and medium-sized ships to support a hub-and-spoke network. This strategy marks a departure from earlier expansion plans centered on ultra-large container ships.
By 2030, HMM expects to operate 166 ships with a combined capacity of 1.5 million TEU. This compares with the 130 ships totaling 1.6 million TEU outlined in its September 2024 plan.
Management also approved an increase of $6 billion in total investment needed by 2030 to fund the expansion.
HMM, ranked the world's eighth-largest carrier, currently has an in-service fleet of just over 1 million TEU and another 222,744 TEU on order, according to Sea-web data.