ports

HMM Expands Container Fleet to 166 Ships, Boosts Tacoma Terminal Capacity

Hyundai Merchant Marine increased its vessel expansion plans significantly. Directors approved a $19.7 billion budget to grow its container fleet to 166 ships totaling 1.55 million teu. The South Korean carrier also plans to expand bulk carrier operations to 110 vessels. The moves exceed the company's 2024 mid-term strategy that targeted 130 container vessels and 1.56 million dwt of dry bulk capacity by 2030. Separately, HMM's U.S. subsidiary Washington United Terminals ordered four cranes from HD Hyundai Samho for its Tacoma port facility. The equipment will replace two aging quay cranes and add two yard cranes, increasing annual handling capacity from 590,000 teu to 880,000 teu. The terminal, operational since 1999, will gain capability to accommodate larger containerships. HMM operates 96 container vessels and 61 bulk carriers currently, pursuing a hub-and-spoke network model to strengthen intra-Asia shipping and long-haul routes.