HMM maps out a mid-to-long-term strategy to expand its business portfolio for future growth and drive itself to be a global green shipping and logistics carrier, reports HMM.
Global environmental regulations
HMM will enhance its capacity to deal promptly with global environmental regulations. It is considering an effort to accelerate achieving Net Zero carbon emissions by the target year 2045. HMM announced that it will allocate KRW 14.4 trillion over 60% of the total investment(KRW 23.5 tn) to sustainable management initiatives, including low-carbon ships and green facilities.
To meet the market’s demand for eco-friendly transportation, HMM aims to acquire around 70 green vessels by 2030 and establish a carbon-neutral ecosystem across all transportation segments by 2045.
Bulk transportation business
HMM aligns its plans to put KRW 5.6 trillion to expand its bulk business by extending its fleet to 110 vessels (12.56 million DWT) from the current 36 vessels. Strengthen profitability by constructing a stable portfolio that is not biased to a particular bulk market(Tanker/Dry).
HMM is actively moving toward Net Zero 2045 to strengthen its response to environmental regulations and achieve carbon neutrality. To reach this goal, HMM will spend KRW 1 trillion on retrofitting ship engines, securing a supply chain for green fuels, and improving operational stability and efficiency through digitalization.
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Source: HMM
