Maritime Service Network CNSS has learned that HMM, South Korea's largest shipping company, plans to invest approximately $20 billion by 2030 to expand its container fleet and overseas terminal operations.

At a recent board meeting, HMM officially approved a new five-year development plan, marking a strategic shift from its previous focus on ordering ultra-large container vessels to building a hub-and-spoke transportation network centered on medium-sized ships and feeder vessels. Under this new plan, HMM will operate a larger fleet in terms of vessel count, but the total capacity growth will be more moderate compared to the expansion plan approved two years ago.

By 2030, the company will operate 166 vessels with a total capacity of 1.5 million TEU. In contrast, the HMM business plan announced in September 2024 had approved 130 vessels with a capacity of 1.6 million TEU.

Management also approved an increase of $6 billion in total investment required by 2030 to cover costs related to fleet expansion.

According to the latest data from Alphaliner, HMM ranks 8th globally among liner companies in terms of capacity, operating 97 vessels (73 owned and 24 chartered) with a total capacity of 1,033,593 TEU. The company also has 36 vessels on order totaling 220,600 TEU, including 12 LNG-powered dual-fuel container vessels of 13,000 TEU and 10 vessels of 2,800 TEU.

HMM stated that the hub-and-spoke network approved at the board meeting will be built upon "strengthened deep-sea and short-sea routes" and will open new routes to markets such as Africa. Two weeks ago, the company already launched its MA2 loop service, deploying five 2,800-TEU vessels to connect the Mediterranean hub ports of Algeciras and Tanger Med with four West African ports, including Dakar in Senegal and Tema in Ghana.

Meanwhile, according to a brief statement filed by HMM with the Korea Exchange, the company's new mid- to long-term strategy also includes "securing terminal infrastructure at key global growth hubs."

This is expected to include confirmation of HMM's participation in the development and operation of the new Vadhvan Port complex in India, located approximately 62 miles north of Mumbai, with a planned throughput capacity of 23 million TEU. HMM signed a memorandum of understanding with Jawaharlal Nehru Port Authority (JNPA) on the project last year.

HMM currently operates eight terminals, including Total Terminals International in Long Beach, Washington United Terminals in Tacoma, and HMM-PSA in Singapore.

HMM's move to expand its terminal operations comes amid a broader trend of shipping companies investing in the terminal sector. In recent years, buoyed by record-high profits, major carriers have been actively strengthening their control over key terminal resources to secure priority berthing rights at major ports and minimize delays.