HMM, South Korea's leading sea flag carrier, has announced an ambitious plan to significantly expand its container and bulk carrier fleet by 2030.
The plan aims to bolster its global competitiveness despite challenges such as declining freight rates and economic slowdowns, reports Seoul's Korea Economic Daily.
hmm intends to boost its cargo capacity to 1.5 million TEU by 2030, up from the current 920,000 TEU.
This expansion would equate to the combined load capacity of 130 container ships compared to the current maximum cargo volume of 84 container carriers.
Additionally, HMM plans to nearly double its bulk carrier cargo capacity to 12.28 million deadweight tonnage (DWT), equivalent to 110 vessels by 2030, compared to the current 6.3 million DWT across 36 ships.
The detailed mid-term growth plan will be unveiled in the first half of this year.
According to the Ministry of Oceans and Fisheries, HMM currently holds a modest 2.7 per cent share of the global container shipping market. However, despite recent setbacks, including failed acquisition talks with South Korea's Harim Co, HMM's expansion strategy signals a strategic shift.
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The plan aims to bolster its global competitiveness despite challenges such as declining freight rates and economic slowdowns, reports Seoul's Korea Economic Daily.
hmm intends to boost its cargo capacity to 1.5 million TEU by 2030, up from the current 920,000 TEU.
This expansion would equate to the combined load capacity of 130 container ships compared to the current maximum cargo volume of 84 container carriers.
Additionally, HMM plans to nearly double its bulk carrier cargo capacity to 12.28 million deadweight tonnage (DWT), equivalent to 110 vessels by 2030, compared to the current 6.3 million DWT across 36 ships.
The detailed mid-term growth plan will be unveiled in the first half of this year.
According to the Ministry of Oceans and Fisheries, HMM currently holds a modest 2.7 per cent share of the global container shipping market. However, despite recent setbacks, including failed acquisition talks with South Korea's Harim Co, HMM's expansion strategy signals a strategic shift.
SeaNews Turkey