HMM to double fleet by 2030 in major expansion plans

 SEOUL : HMM will double its fleet to 240 vessels by the end of the decade, it has revealed in its mid-to-long-term strategy published shortly after a sale of the company fell through. 

The 2030 strategy will see HMM attempt to increase its market share with the significant expansion, which will take its container business capacity from 920,000 TEU to 1.5 million TEU, and its bulk business from 6.3 million DWT to 12.28 million DWT. 

A statement explained: “We plan to build a stable portfolio by expanding the bulk and integrated logistics business, focusing on the container business. 

“We will do our best to improve customer service and move forward as Korea’s representative general logistics company that meets the global level. 

In addition to the fleet expansion, HMM said it would also pursue diversification of its portfolio through terminal acquisitions and the bolstering of its logistics infrastructure.