HMM Sets Sights on 22,000 TEU Boxship Order

South Korean shipping company Hyundai Merchant Marine (HMM) plans to join the 22,000 TEU ownership club as the company’s CEO has revealed plans to order these megaships in 2018.

Speaking at 2018 Sales Strategy Meeting, held on December 18, HMM President & CEO C.K. Yoo said that the 22,000 TEU newbuilding construction project will be in accordance with the national expectation for “being a leading shipping nation.”

“HMM is now located in the good position to be a world-class leading shipping company by overcoming new environmental regulations starting from 2020,” Yoo said.

 “During the last year, HMM has faced many changes such as regaining customer trust, recovering profitability, and ranking #1 in service reliability etc,” he added.

HMM identified education of its manpower and achieving innovative growth through Blockchain technology, as key strategic objectives for next year.

In addition, securing profitability based on the overseas terminal belt US West Coast – Pusan – Kaohsiung – Algeciras – Rotterdam, was discussed as well, together with the deployment of new vessels, the opening of new services, expanding business network and cutting operating costs.

The 22,000 TEU order has been rumored for quite some time on the market, however, this is the first time that the plans have been officially confirmed.