HMM Unveils Strategy to Expand Fleet to 1.5 Mteu

HMM Unveils Strategy to Expand Fleet to 1.5 Mteu

South Korea’s leading shipping line, HMM, has revealed a mid-to-long term strategy aimed at increasing its fleet capacity to 1.5 million TEU by 2030. This initiative seeks to enhance the competitiveness of its core operations and adapt to the evolving landscape of container alliances. Over the next six years, HMM aims to grow its fleet to 130 ships, reaching a total capacity of 1.5 million TEU. Currently, the company operates 74 ships with a capacity of 809,224 TEU, with an additional 23 ships of 224,791 TEU on order.

HMM also intends to boost its market share by expanding independent services and diversifying its route offerings. Alongside Ocean Network Express (ONE), HMM is the second member of THE Alliance to announce ambitious expansion plans recently.

With Hapag-Lloyd’s exit from the alliance in 2025, leaving only HMM, ONE, and Yang Ming, these companies aim to strengthen their presence in the market. This strategic initiative aligns with the South Korean government’s recent announcement of additional support to expand the national fleet. HMM’s earlier plans to reach 1.0 million TEU by 2020 were disrupted by the COVID-19 pandemic. The Seoul-based company is also considering advancing its carbon neutrality target from 2050 to 2045.