HMM to Acquire Around 70 Green Vessels by 2030

Highlights

• HMM will invest KRW 23.5 trillion by 2030 to expand and strengthen its global green shipping and logistics business.

• The investment will be focused on container, bulk, integrated logistics and competitiveness.

• They aim to achieve Net Zero by 2045, and a big portion of the investment will be for sustainable management.

HMM, a leader in the global shipping and logistics industry, has a strategic plan to diversify their business and grow and become a global leader in eco-friendly shipping and logistics.

Investment Plan

HMM will invest KRW 23.5 trillion by 2030, and the breakdown is as follows:

• Container business: KRW 12.7 trillion

• Bulk business: KRW 5.6 trillion

• Integrated logistics business: KRW 4.2 trillion

• Competitiveness enhancement: KRW 1 trillion

Sustainability and Regulatory Compliance

To address global environmental regulations, HMM is working towards Net Zero by 2045. They will invest KRW 14.4 trillion (over 60% of the total investment) in sustainable initiatives, including low-carbon ships and green facilities.

• Container Transportation Business: HMM will invest KRW 11 trillion to build a fleet of 1.55 million TEU, and 130 vessels to adapt to global shipping alliance changes and strengthen their core business. An additional KRW 1.7 trillion will be invested in container boxes to improve operational efficiency. By 2030, HMM will have around 70 green vessels and carbon neutral by 2045.

• Bulk Transportation Business: Invest KRW 5.6 trillion to increase their bulk fleet from 36 to 110 vessels, 12.56 million DWT. The company will build a balanced portfolio not to be over-dependent on any specific bulk market (tanker or dry cargo). They will also enter the eco-friendly energy transportation business to get an early market share.

• Integrated Logistics Business: Invest KRW 4.2 trillion to strengthen their shipping and logistics infrastructure. This includes expanding terminals, acquiring additional port terminals and ODCY business to offer end-to-end services.

• Competitiveness enhancement: To achieve Net Zero 2045, HMM will invest KRW 1 trillion in ship engine retrofit, green fuel procurement and digitalisation to improve operational efficiency. The shipping giant will also develop new sustainable businesses and strengthen their organisation to support the 2030 strategy.

Kim Kyung Bae, HMM President & CEO, said, "By strengthening partnerships founded on trust, we are enhancing the quality of service we deliver to our customers. We remain committed to developing a resilient business portfolio and positioning ourselves as a global leader in eco-friendly shipping for the future."

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Source: HMM