More details have emerged regarding HMM’s latest US$1Bn newbuilding programme focused on the dry bulk and LPG carrier segments
Last week, Riviera reported that the South Korean shipping major had disclosed a contract for the construction of eight bulk carriers and two gas carriers, without identifying the shipyards. Deliveries are scheduled through September 2031.
Shipbroking and market sources have now noted that the bulk carrier order comprises very large ore carriers (VLOCs) to be built by Jiangsu Hantong Ship Heavy Industry, while the two gas carriers are very large gas carriers (VLGCs) to be constructed by HD Hyundai.
Notably, on 29 June, HD Hyundai Samho disclosed an order from an unnamed Asian shipowner for two LPG carriers valued at approximately US$237M.
HMM has also revealed the employment arrangements for the VLGC pair. On 26 June, the company announced a long-term charter agreement with commodities trader Mercuria, valued at nearly US$203M. The charter will commence in July 2029 and run through December 2036.
A company spokesperson confirmed to Riviera that the Mercuria bareboat charter relates to the two VLGC newbuildings.
HMM has not yet responded to questions regarding the shipyard selected to build the VLOCs or their intended employment.
The company has continued to expand its presence across multiple shipping segments. As of 31 March 2026, HMM operated a fleet of 154 vessels, comprising 118 owned ships and 36 chartered-in units.
Container vessels remain the backbone of the fleet, accounting for 95 ships. HMM has also been strengthening its tanker and dry bulk businesses, where it currently operates 19 and 23 vessels, respectively.
Among its most recent investments, HMM was linked earlier this year to an order for 10 feeder container vessels at HD Hyundai. The company has also been associated with a reported VLCC newbuilding order at a Chinese shipyard.
