On October 20, 2026, HMM has recently placed an order for the construction of eight new container ships with a capacity of 13,000 TEU with HD Hyundai. This order is part of HMM's strategy to increase its container capacity to 1.5 million TEU and also expand into other sectors including dry cargo and tankers.
Details of HMM's New Order
According to available reports, two ships will be built at the HD Hyundai Heavy Industries factory in Ulsan and six other ships at the HD Hyundai Samho factory in Yeongam. These ships will be 337 meters (1,105 feet) long and equipped with dual-fuel engines that use liquefied natural gas (LNG) and conventional marine fuel. The entry into service of these ships is planned for 2029.
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New Strategies in Regional Networks
HMM has also signed an agreement to purchase four feeder ships (three ships with a capacity of 2,800 TEU and one ship with a capacity of 1,700 TEU) as part of its regional feeder network strategy. The company intends to focus more on medium and small ships in the next phase of its growth strategy, rather than very large container ships.
HMM is striving to increase its capacity to around 1.5 million TEU. At the start of this strategy, the company's capacity was less than 1 million TEU, but according to Alphaliner calculations, this figure has now reached 1.034 million TEU, which includes 97 ships (72 owned and 25 chartered). Overall, the company has announced that it has invested about $4.5 billion this year in expanding its fleet, logistics, infrastructure, and future technologies.
Concerns in the Industry and Future Demand
Analysts at Linerlytica noted that container ship orders have reached their highest level since 2009, with total order capacity now at 16.2 million TEU. However, many in the industry are concerned about the potential for overcapacity in the near future. Alongside the increase in order placements, forecasts also indicate a potential decrease in demand.
As the trend of rerouting ships through the Suez Canal and the Red Sea continues, it is expected that capacities needed to maintain long routes around Africa will be freed up. These changes could impact demand and freight rates in the market.
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