HMM strikes again with a mammoth order of over two billion dollars at South Korean shipyards.
As shipping sources report, HMM is said to have ordered twelve dual-fuel LNG container ships, with a capacity of 14,000 TEU, at the country’s shipyards.
It is estimated that each ship will cost approximately $182.5 million — an amount that is hard to go unnoticed, even by the standards of a large company like HMM. The construction will be shared by two of South Korea’s largest shipbuilding companies: HD Hyundai will build eight of the vessels, while Hanwha Ocean will complete the remaining four.
HMM is already the eighth largest carrier in the world and is soon expected to cross the threshold of companies managing over 1 million TEU of total capacity.
Last September, the company had revealed its expansion plans until the end of the decade, allocating the huge amount of $17.48 billion. The plan foresees the doubling of the container ship fleet and the tripling of the tanker and bulk carrier fleet by 2030.
You don’t often see such moves in shipping. HMM seems to have set a course for something big, and this is clearly discernible from the consistency of its investments.
In any case, if this order shows anything, it’s that in shipping, those who dare, win. And HMM seems to have dared for good — showing that it is not afraid to cast anchor in the deep.
From our side, as people of the sea, we cannot help but admire such moves. Because behind the billions and the numbers, there is always the same vision: to build ships that will travel safely across all the seas and Oceans of the planet. And that is the most important thing.
