South Korea's big shipping firm HMM has placed newbuilding orders worth US$2.8 billion as part of its long-term growth strategy, reports Fort Lauderdale's Maritime Executive.

The order includes 12 dual-fuel LNG containerships of 13,000 TEU capacity, with eight to be built by HD Hyundai Heavy Industries and four by Hanwha Ocean. Delivery is expected in 2027 and 2028.

HMM updated its midterm strategy in September 2024, aiming to expand its fleet to 130 vessels with a total capacity of 1.5 million TEU. Alphaliner currently estimates its fleet at 93 ships totalling 997,170 TEU.

The company also ordered two Very Large Crude Carriers, though details were not disclosed. HMM currently operates 14 VLCCs, seven product tankers and two LNG carriers.

Additional fleet growth includes four multi-purpose carriers due this year and next, and seven car carriers to be chartered to Hyundai Glovis.

These investments continue a strategy launched in 2018, with further containership orders placed in 2021 and 2023, including dual-fuel LNG and methanol vessels.

The company's ownership remains uncertain. Government investment banks failed to finalise a sale, while steelmaker Posco is reportedly considering a bid. The Korea Shipowners' Association opposes the move, citing Posco's lack of shipping expertise.