South Korean shipping major HMM is continuing its fleet expansion strategy, announcing a new round of shipbuilding contracts covering its bulk and gas carrier operations
The company disclosed in a stock exchange filing on 24 June that it had ordered eight bulk carriers and two gas carriers, with deliveries scheduled through September 2031.
HMM did not provide details regarding the size of the vessels or the shipyards selected for the projects. However, it said it will invest more than US$1Bn in the 10 newbuildings. The company added that the orders are intended to enhance the competitiveness of its bulk shipping business.
An HMM official told local media that the company is pursuing both quantitative and qualitative growth, focusing on diversifying vessel types and securing long-term charter contracts.
HMM has steadily expanded its presence across multiple shipping segments. As of 31 March 2026, the company operated a fleet of 154 vessels, including 118 owned ships and 36 chartered-in units.
Container vessels account for the majority of the fleet, with 95 ships in operation. HMM has also been strengthening its tanker and bulk carrier businesses, where it operates 19 and 23 vessels, respectively.
In the gas segment, HMM re-entered the LPG carrier market in 2025 after suspending operations in the sector in 2016. The company has partnered with energy trader BGNin a joint venture that plans to operate two newbuild very large gas carriers (VLGCs), each with a capacity of 88,000 m³.
HMM currently lists three LPG carriers in its fleet.
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 agreement in China.
