by Lloyd's List
HMM has announced that it has placed firm newbuilding orders for 12 neopanamax containerships and two very large crude carriers at domestic shipyards.
South Korea’s largest shipowner confirmed that the order for the containerships, all with capacities of 13,000 teu, will be constructed by HD Hyundai Heavy Industries and Hanwha Ocean.
A spokesperson for HMM confirmed to Lloyd’s List that eight of the ships will be built by HD Hyundai, with the remaining vessels assigned to Hanwha Ocean.
All 12 boxships are being built to liquefied natural gas dual-fuel specification.
“As decarbonisation regulations from the IMO and EU continue to strengthen, LNG is viewed as one of the most readily deployable lower-emission fuels,” said HMM.
It added; “By adding these new LNG dual-fuelled vessels to its existing portfolio, which already includes methanol-powered containerships and LNG-powered vessels, HMM continues to strengthen its position in sustainable shipping. The new VLCCs will also contribute to diversifying and reinforcing the company’s bulk fleet portfolio.”
HMM confirmed that the VLCCs will be constructed by Hyundai HI. The company operates a fleet of 13 VLCCs in service, all of which were built at South Korean shipyards, according to Lloyd’s List Intelligence data.
The orders are valued at a combined KRW 4trn ($2.8bn) with the new tonnage expected to be delivered in 2028 and 2029.
HMM is the eighth-largest operator of containerships, according to Alphaliner. However, until its new order announced today was placed HMM had by far the smallest orderbook amongst the Top 10 global box lines, comprising only five ships with a combined capacity of 43,192 teu.
The company is understood to have additional plans to order an undisclosed number of smaller ships for its intra-Asia services, with capacities of 1,900 teu and 3,000 teu.
This fleet expansion is part of HMM’s broader KRW 23.5 trillion ($17.4 billion) investment plan through 2030, first announced in September 2024. The strategy includes expanding its containership vessel fleet from current 1m teu to 1.5m teu and growing its bulker fleet from 36 ships of a combined 6.3m dwt to 110 vessels of 12.3m dwt.
