en.Wedoany.com Reported - South Korean shipping giant HMM has disclosed an order for 10 new vessels, investing 1.7 trillion won (approximately $1.1 billion), continuing its expansion into non-container businesses. The order includes eight bulk carriers and two gas carriers, marking the latest step in HMM's fleet expansion and diversification plan. The Seoul-listed company is involved in container shipping, crude oil tankers, dry bulk, and gas transportation.

HMM did not disclose the shipyard or detailed vessel specifications in its English-language exchange filing. Earlier this year, the company ordered 10 feeder container vessels from HD Hyundai Heavy Industries, with a contract value of approximately $550 million. These are conventionally powered 2,800 TEU vessels scheduled for delivery by 2028. Additionally, HMM has placed orders for a series of 1,800 TEU and 3,000 TEU newbuilds at Huanghai Shipbuilding.

Last month, HMM ordered four new VLCCs from China's Hengli Heavy Industry, each with a deadweight tonnage of 306,000 tons, at a price of approximately $125 million per vessel. HMM is increasing its exposure to non-container businesses under its 2030 growth plan, which includes an investment of 5.6 trillion won in bulk shipping. The company aims to expand its dry bulk fleet from 36 vessels to 110 vessels, totaling approximately 12.56 million deadweight tons, and to establish a more balanced portfolio in the dry bulk and tanker markets.

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