ShippingWatch

HMM to take delivery of new mega-ships in a few months

In the second quarter, South Korea's HMM will receive the first of a number of large container vessels, while another year with high uncertainty has commenced, CEO says in New Year's address.

Photo: PR / HMM

2020 will be another year with great uncertainty for shipping companies across the world, says Jae-hoon Bae, chief executive at South Korean container line HMM. It will also be the year when the company starts taking delivery of 12 new container vessels of 24,000 teu, which will gradually enter the fleet from the second quarter onward.

These mega-ships are a key part of the shipping line's ambition to reach a capacity of 1 million teu and an annual revenue exceeding USD 10 billion. HMM has set no deadline for when this ambition must be realized, but in its latest fiscal report from the third quarter 2019 the company booked an operating deficit.

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