Korean’s Biggest Shipping Line to Invest $11 Billion on Expansion
- HMM plans to increase its container shipping capacity by 46%
- Company to invest in terminals and logistics in key markets
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South Korea’s biggest shipping company plans to invest 15 trillion won ($11.4 billion) by 2026 on new ships and terminals to strengthen its competitiveness and comply with tighter environmental regulations.
HMM Co. will increase its shipping capacity to 1.2 million 20-foot containers by 2026 from 820,000 TEU now and expand its bulk carrier fleet to 55 vessels from 29, the company said in an emailed statement Thursday. HMM said it will invest in terminals and logistics assets in key markets, without providing more details.