HMM, South Korea's largest liner company, announced a major investment of $17.6 billion
On September 10, HMM, South Korea's largest liner company, announced major investment plans.
HMM plans to invest a total of 23.5 trillion won ($17.6 billion) by 2030 to promote sustainable development, further expand its business footprint and accelerate its transformation into a global green shipping and logistics service provider.
In container transportation, HMM plans to invest 11 trillion won (about $8.2 billion) to expand the size of its container fleet, aiming to operate 130 container ships of 1.55 million TEU by 2030. HMM stressed that in response to the restructuring of global shipping alliances and consolidating its core competitiveness, the company will procure about 70 environmentally friendly vessels to meet the growing demand for green transportation in the market.
In addition, HMM will invest 1.7 trillion won (about $1.3 billion) to improve the efficiency of container operations.
In its integrated logistics business, HMM plans to invest 4.2 trillion won (about $3.1 billion) to strengthen its shipping and logistics infrastructure. To enhance its customer service capabilities, HMM will expand existing terminals and acquire new terminals to increase handling capacity. At the same time, HMM will expand its off-dock container yard (ODCY) business and integrated logistics business to provide end-to-end one-stop services.
In terms of dry bulk cargo transportation, HMM will invest 5.6 trillion won (about $4.2 billion) to expand the bulk fleet, and the number of ships will increase from the current 36 to 110, totaling 12.56 million deadweight tons. At the same time, it plans to increase profitability by building a diversified business portfolio, especially in the field of environmentally friendly energy transportation.
At the same time, the company will also develop new sustainable businesses and invest in areas such as human resources to achieve the mid-2030 long-term strategy.
Kim Kyung Bae, president and CEO of HMM, said: "While we continue to improve the quality of our services, we will also focus on developing a resilient business portfolio and solidifying HMM's position as a global leader in green shipping."
For this investment plan, HMM believes that the move demonstrates the company's commitment to environmentally friendly shipping and sustainable development, especially in the face of increasingly stringent environmental regulations around the world, and that HMM is actively promoting the realization of net zero emissions goals.
HMM plans to invest a total of 23.5 trillion won ($17.6 billion) by 2030 to promote sustainable development, further expand its business footprint and accelerate its transformation into a global green shipping and logistics service provider.
In container transportation, HMM plans to invest 11 trillion won (about $8.2 billion) to expand the size of its container fleet, aiming to operate 130 container ships of 1.55 million TEU by 2030. HMM stressed that in response to the restructuring of global shipping alliances and consolidating its core competitiveness, the company will procure about 70 environmentally friendly vessels to meet the growing demand for green transportation in the market.
In addition, HMM will invest 1.7 trillion won (about $1.3 billion) to improve the efficiency of container operations.
In its integrated logistics business, HMM plans to invest 4.2 trillion won (about $3.1 billion) to strengthen its shipping and logistics infrastructure. To enhance its customer service capabilities, HMM will expand existing terminals and acquire new terminals to increase handling capacity. At the same time, HMM will expand its off-dock container yard (ODCY) business and integrated logistics business to provide end-to-end one-stop services.
In terms of dry bulk cargo transportation, HMM will invest 5.6 trillion won (about $4.2 billion) to expand the bulk fleet, and the number of ships will increase from the current 36 to 110, totaling 12.56 million deadweight tons. At the same time, it plans to increase profitability by building a diversified business portfolio, especially in the field of environmentally friendly energy transportation.
At the same time, the company will also develop new sustainable businesses and invest in areas such as human resources to achieve the mid-2030 long-term strategy.
Kim Kyung Bae, president and CEO of HMM, said: "While we continue to improve the quality of our services, we will also focus on developing a resilient business portfolio and solidifying HMM's position as a global leader in green shipping."
For this investment plan, HMM believes that the move demonstrates the company's commitment to environmentally friendly shipping and sustainable development, especially in the face of increasingly stringent environmental regulations around the world, and that HMM is actively promoting the realization of net zero emissions goals.
