South Korean shipping company HMM to invest 23.5 trillions of won ($17.5 billion) by 2030 for increase their competitiveness and make a leap into forward as a Korean global logistics enterprise. The investment, announced today by the Seoul-based company, is also part of the the renewal of cooperation with the maritime carriers ONE and Yang Ming announced yesterday by the three partners who have decided to change the name of their understanding from THE Alliance to Premier Alliance, and to collaborate on various world routes also with the company MSC, which in turn has decided to cooperate with Israel's ZIM ( of 9 and 9 September 2024).

Announcing the investment plan, HMM highlighted that the renewal of the agreement with ONE and Yang Ming will lead to a Increase in the number of scheduled services operated worldwide from the alliance that will rise from the current 26 under THE Alliance to 30 with the new Premier Alliance, with a significant strengthening of links with Europe that will rise from the current eight (four with Northern Europe and four with the Mediterranean) to 11 (six with Northern Europe and five with the Mediterranean).

Of the 23.5 trillion won under the plan, 12.7 billion will be invested in the container transport segment, 5.6 billion in bulk transport, 4.2 billion in the integrated logistics and a billion in performance improvement environmental and digital technologies. In addition, more than 60% of the total investment funds, i.e. 14.4 billion won, will be aimed at development of environmentally friendly activities under the of zero emissions.

With regard to investments in the container business, HMM plans to spend 11 billion won on fleet expansion the number of which will rise to 130 ships (including 70 to zero or low carbon footprint) for total hold capacity equal to 1.55 million TEU containers, a fleet that is currently consisting of about 80 ships for a cargo capacity of 870 thousand TEUs. In addition, 1.7 trillion won will be invested in the purchase of containers.

The 5.6 trillion won allocated to the transport segment bulk shipping will be used to expand the existing fleet, which consists of 36 ships with a capacity of of 6.34 million deadweight tons, bringing it to 110 ships for a total capacity of 12.56 million tons Gross. The South Korean company specified that these investments will be aimed at creating a stable portfolio of ships that is not focused on a specific market, pursuing a diversification of activities and entering the environmentally friendly energy transport by quickly securing shares of market in this business.

The 4.2 billion earmarked for the expansion of integrated logistics will be invested in new port terminals and structures suitable for supporting the expansion of the network of containerized sea freight.

Finally, 900 billion won for the optimization of environmental and digital performance will be invested in the renewal ships, for example with engine retrofitting, and for Ensure the company has a supply chain for procurement of ecological fuels, while 100 billion will be invested in the creation of a digital-based organizational system.