HMM has concluded a long-term contract of affreightment with Brazil’s Vale, representing US$31 million in value.
This marks the second agreement between the organizations, following a US$ 457 milliondecade-long contract finalized in May.
The new arrangement establishes HMM’s iron ore transportation services utilizing five bulk carriers across a 10-year timeframe from 2026 Q2 through 2036 Q1.
This strategic Vale partnership is anticipated to deliver consistent cargo volumes and steady revenue streams for HMM throughout the coming decade.
HMM intends to expand its bulk carrier fleet to 110 vessels by 2030, supporting its diversification strategy beyond container shipping operations and pursuing emerging growth opportunities.
An HMM representative stated that through portfolio diversification, they target balanced growth across multiple markets and establish new pathways for sustained long-term expansion.
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