South Korea's Largest Shipping Line to Invest in New Ships, Terminals
HMM, South Korea's largest shipping firm, plans to invest $11.4 billion by 2026 in new ships and terminals to boost competitiveness and comply with greater environmental regulations, the firm said in an emailed statement, Bloomberg reported July 13. The new…
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investment will see shipping capacity boosted to 1.2 million 20-foot equivalent unit containers from its current level of 820,000 TEU and raise the number of bulk carrier vessels to 55 from 29. Last year, HMM noted its largest-ever annual operating profit of more than $5.5 billion, with port congestion boosting shipping rates, Bloomberg said.