HMM has previously built on a large scale, including 12 24000TEU VLCs and eight 16000TEU VLCs. Since April 2020, 12 VLCS have been put into operation. According to foreign media reports, HMM has recently signed a new shipbuilding contract with Daewoo Shipbuilding and Hyundai Heavy Industries to build 12 13000TEU post-Panamax container ships.
The total cost of the new container ships is $1.57 billion, according to the company's announcement. Under the agreement, Daewoo Shipbuilding and Hyundai Heavy Industries will each build six vessels, which are scheduled for delivery in the first half of 2024.
According to the latest data from Alphaliner, HMM currently has a fleet capacity of 80 ships with a total capacity of about 842,000 TEU, ranking eighth in the world, including 34 owned ships with 5,45134TEU. 46 vessels chartered, 297058TEU. With the addition of 12 13,000 TEU vessels, HMM's fleet capacity will be further expanded to nearly 1 million TEU, which will bring HMM roughly in line with Hanjin Shipping's total capacity in 2016, and further strengthen its will to regain the global shipping market share it had before the bankruptcy of Hanjin Shipping.
It is important to note that HMM will continue to order new vessels in the future, following the order of 12 new vessels. The Korean government's plan for HMM is to roughly double its current investment in the container fleet, which could increase HMM's global market share by 1 percentage point in the medium to long term.
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