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HMM aims for 6th place in ranking ordering 20 super boxships

SOUTH Korea's Hyundai Merchant Marine (HMM) plans to become a top 10 global shipping company by ordering 20 super large containership, and is expecting to have a capacity of 800,000 TEU and rank sixth in the world, according to Business Korea.

HMM aims for 6th place in ranking ordering 20 super boxships

SOUTH Korea's Hyundai Merchant Marine (HMM) plans to become a top 10 global shipping company by ordering 20 super large containership, and is expecting to have a capacity of 800,000 TEU and rank sixth in the world, according to Business Korea.

HMM aims for 6th place in ranking ordering 20 super boxships
20 November 2017 - 20:00

According to the investment bank (IB) industry and shipping industry, HMM will order 20 large-sized container ships starting early next year. "HMM will order 20 large-sized vessels, including nine 20,000-TEU containerships and 11 11,000-TEU containerships for aggressive fleet expansion," a high-ranking official in the IB industry said.

Analysis says that HMM will ramp up the number of super large ships as a strategy to cope with the global division and congregation. HMM currently has 56 vessels and its capacity (maximum shipment volume) is 43,000 TEU, ranking 13th in the world. On the other hand, Maersk which belongs to the 2M Alliance with HMM has a capacity of 3.55 million TEU and MSC, 3.02 million TEU, eight times that of HMM.

Next year, Japan is expected to merge its three major shipping companies (MOL, NYK, and "K" Line) and the new shipping company established is expected to have a capacity of 1.7 million TEU. China's major shipping company Cosco (1.81 million TEU) will finally marry OOCL (670,000 TEU) of Hong Kong, which is the seventh largest in the world in 2019. Then Cosco's capacity (including that of ordered ships) will exceed 3 million TEU, jumping to second or third place in the world. This means that HMM will not be able to compete in such an environment as the shipping company has a maximum capacity of 400,000 TEU and its largest container ship has a capacity of 13,100 TEU.

 

 

 


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