HMM to spend $17.5 bn by 2030 to double cargo capacity

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The breakdown of HMM's 23.5-trillion-won spending plan (Unit: trillion won) Container shipping 12.7 Bulk cargo 5.6 Integrated logistics services 4.2 Low emissions and service digitalization 1.0 PREMIER ALLIANCEThe detailed spending plan was unveiled after HMM recently formed a five-year strategic partnership, dubbed Premier Alliance, with Singapore-based Ocean Network Express (ONE) and Taiwan’s Yang Ming Marine Transportation, as an alternative to THE Alliance.

HMM Co., South Korea’s largest ocean carrier, said on Tuesday it will spend 23.5 trillion won ($17.5 billion) by 2030 to nearly double its cargo capacity and expand integrated logistics services to become a leading logstics company.

On Monday, the Premier Alliance said that it has agreed on a slot exchange cooperation with Mediterranean Shipping Company (MSC), a leading shipping line headquartered in Switzerland, in the Asia-Europe trade, starting in February next year.

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Category: Economy

Markets: South KoreaGermanySingaporeSwitzerlandTaiwan

Topics: Alliance Cargo Trillion Bulk Ocean Container Expand Company Services 2030 Logistics

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-10 @ 17:19:54 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 511 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 17 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 22445481

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