HMM Plans for Giant Vessels with New Funds

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South Korea’s Hyundai Merchant Marine (HMM) will split the KRW 600 billion (USD 554 million) it has raised from a rights issue this month in three equal proportions on, new ships, terminals and repaying debts.

The new ships are likely to include a series of 22,000 teu vessels. New container terminal investment are being contemplated domestically, and US, Vietnam and Singapore, industry sources said.

HMM underwent a massive restructuring in 2016 and has since inked a pact with Maersk and MSC, to work on the primary east-west trades.

Sea News, December 21

Baibhav Mishra
Author: Baibhav Mishra

Associate Editor, Sea News