South Korea’s HMM has gone local for its latest newbuilds, contracting HD Hyundai for eight 13,400 teu LNG dual-fuel containerships, in a deal worth $1.46bn. Two vessels will be built by HD Hyundai Heavy Industries (HHI) and six by HD Hyundai Samho, with deliveries scheduled consecutively through the first half of 2029.
HMM became the eighth member of the exclusive teu millionaires club last month. HMM’s fleet now stands at 1,016,180 teu, according to analysis by Alphaliner, which noted that the Korean carrier’s operated capacity has doubled over the past five years.
In September last year, HMM unveiled expansion plans through to the end of the decade, setting aside a massive KRW23.5trn ($17.48bn) that will see its container fleet nearly double while its tanker and dry bulk fleets will triple in size come 2030.
Through this contract, HD Hyundai has achieved its largest containership order volume since 2007.
An HD Hyundai representative stated, “Going forward, we will continue to lead the decarbonisation of the shipbuilding and shipping industries through technological competitiveness focused on eco-friendly and high-efficiency vessels.”