South Korea's HMM to invest nearly $3b in 14 new ships

The board of directors of South Korean shipping company HMM has approved a “new facility investment” of nearly KRW4.03 trillion (US$2.8 billion) for the construction of new container vessels and very large crude carriers (VLCCs).

The amount will be invested between October 16, 2025, when the HMM board approved the decision, and April 30, 2029, which the company expects is the date when the deliveries will be completed.