This is the second contract signed by the two companies. Earlier this year in May, the two sides reached an agreement worth 63.6 won for a period of 10 years. Under the new agreement, HMM will transport iron ore using five bulk carriers from the second quarter of 2026 to first quarter of 2036.
△HMM dry bulk carrier "Global Trust"
The strategic partnership with Vale is expected to provide HMM with stable cargo and continued revenue over the next ten years.
As part of its strategy to expand beyond container shipping and seek new growth opportunities, HMM plans to increase its dry bulk fleet size 110 vessels (with a total deadweight tonnage of 12.56 million tons) by 2030.
A HMM official said "Through business portfolio diversification, we aim to achieve balanced growth in each market and explore new long-term growth opportunities."
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