News / HMM unveils $11.3bn fleet investment plan

Invest to survive is the message from HMM’s CEO, Kim Kyung-bae, after announcing that South Korea’s flagship carrier will invest more than $11.3bn in the next five years to expand its fleet and shift to eco-friendly fuels.

By 2026, HMM aims to grow its container shipping fleet to 1.2m teu, from the present size of 820,000 teu, and will also expand its dry bulk fleet to 55 ships, from 29 vessels currently.

While container freight rates have been at historically high levels, ...