South Korea’s flagship carrier HMM has become the eighth member of the exclusive teu millionaires club. HMM’s fleet now stands at 1,007,180 teu, according to analysis by Alphaliner, which noted in its most recent weekly report that the Korean carrier’s operated capacity has doubled over the past five years, the 2020s being the most profitable decade so far in container shipping history.
HMM’s growth looks set to continue with a raft of newbuilds due out of yards in South Korea. Next year, the carrier is scheduled to receive five ships in the 8,500 the 9,000 teu class, while later on in the decade it will take delivery of twelve 13,000 teu newbuilds.
In September last year, HMM unveiled expansion plans through to the end of the decade, setting aside a massive KRW23.5trn ($17.48bn) that will see its container fleet nearly double while its tanker and dry bulk fleets will triple in size come 2030.
Above HMM’s eighth place in the Alphaliner carrier rankings there are plenty of other milestones happening. Taiwan’s Evergreen, in seventh spot, will shortly surpass 2m teu in operating capacity, a landmark Japan’s Ocean Network Express (ONE) recently celebrated, while right at the top of the rankings, Soren Toft-led Mediterranean Shipping Co (MSC) is about to set another record when it crosses the 7m teu mark in the coming months.
