Continuous expansion! HMM invests $300 million to buy 5 container ships
South Korea's flagship liner company Hanshin Shipping (HMM) continues its medium - to long-term fleet expansion strategy, recently spending about $300 million to purchase another five container ships on its long-term lease.
Specifically, the Seoul-based South Korean liner company has acquired five vessels from Capital Clean Energy Carriers (formerly Capital Product Partners), a unit of Greek ship owner Evangelos Marinakis. These include the Hyundai Prestige, Hyundai Premium, Hyundai Paramount, Hyundai Privilege and Hyundai Platinum (all built in 2013). 5023TEU).
HMM paid about $300 million, according to brokers. This represents a premium and reflects the shortage of vessels of this size in the container market.
It is understood that HMM leased these 5 containers in 2013, with a lease period of 12 years. While leases are gradually expiring or cancelled due to sales, the fleet is still operating on the HMM route and will be gradually handed over between November 2024 and 1 2025.
HMM is South Korea's largest liner company with extensive operations in the dry bulk, oil tankers, LNG carriers and car vessels sectors. For the past two years, HMM has been active in the market for the purchase and sale of new and used ships.
In fact, HMM has an ambitious medium - to long-term strategy in which it will invest no less than 23.5 trillion won ($17.5 billion) by 2030 to massively expand its container and dry bulk fleet for future growth and to become a global green shipping and logistics company.
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HMM plans to invest 11 trillion won to ensure that by 2030, HMM container ship capacity will grow to 130 1.55 million TEU, preparing for the restructuring of global shipping alliances and strengthening the competitiveness of core businesses.
At the same time, HMM plans to invest 5.6 trillion won and plans to expand its non-container fleet from 36 to 110 vessels (12.56 million deadweight tons) by 2030 to expand its bulk cargo business.
