HMM targets increase of fleet capacity to 1 million TEUs

The ocean carrier will transform to an ocean friendly company to fulfil the vision of smart shipping

HMM targets increase of fleet capacity to 1 million TEUs

On October 26, HMM HQ employees gathered in the Seoul office to hear CEO C.K. Yoo’s presentation on HMM’s blueprint for the year 2022. Mr. Yoo presented HMM’s target of building up its fleet capacity to 1 million TEUs and posting USD 10 billion in annual revenue by 2022.

HMM recently ordered twelve 23,000 TEU and eight 15,000 TEU eco-friendly mega vessels in preparation for the IMO’s sulfur regulations starting from 2022, and to secure competitiveness through economies of scale. The newly ordered mega vessels are expected to deliver from 2020 in sequential order.

In addition, HMM plans to finalize the acquisition of stakes in Hyundai Pusan New Port (HPNT) by the end of this year. Mr. Yoo stated that, “HMM will do its utmost to improve productivity by connecting Block Chain and IoT technology to our services in order to increase customer satisfaction. We need to transform HMM to an IT friendly company to fulfil our vision of smart shipping.”