South Korea’s leading shipping line, HMM, has reportedly signed contracts worth over $2.2 billion for a new series of LNG dual-fuel containerships, marking another major step in its fleet expansion program.
According to industry sources, the order covers 12 vessels of 14,000 TEU each, to be split between the country’s top two shipbuilders. HD Hyundai will construct eight of the ships, while Hanwha Ocean will deliver the remaining four. Each vessel is estimated to cost about $182.5 million.
With this order, HMM – currently ranked as the world’s eighth-largest container carrier – is set to surpass the 1 million TEU fleet capacity milestone, joining the ranks of the global “millionaire” carriers.
The move follows HMM’s long-term expansion strategy announced in 2024, which earmarked KRW 23.5 trillion ($17.5 billion) for fleet development through 2030. Under the plan, the company aims to nearly double its container capacity and triple the size of its tanker and bulk carrier fleets.
