KMTC upsizes fleet with $600m order at HD Hyundai
Korea Marine Transport Expands Fleet with Major Order
Korea Marine Transport Co (KMTC) is making waves in the shipping industry with its latest decision to order four state-of-the-art 13,000 TEU containerships from HD Hyundai. This significant investment, estimated at around $150 million per ship, marks a pivotal moment in KMTC’s operations, as it transitions to larger vessels aimed at enhancing its service capabilities. If finalized, this order will represent both the largest number of ships and the highest total value in KMTC’s history.
Strategic Growth and Market Re-entry
Ranked 17th on Alphaliner’s global carrier list, KMTC currently operates a fleet of more than 60 boxships, primarily focused on short- and mid-haul routes within Asia. Historically, the company has favored smaller vessels, with only a handful of post-Panamax ships in its lineup. The recent order for larger containerships signifies a strategic shift that aligns with KMTC’s recent re-entry into the transpacific market, which it left four decades ago. This move allows the company to compete more effectively in a rapidly evolving shipping landscape.
Earlier this year, KMTC resumed operations on the Asia West Coast (AWC) service, collaborating with SeaLead Shipping and TS Lines, and introduced a new Asia-Mexico route. This expansion comes amid improving market conditions and increasing cargo volume, indicating a robust recovery in global trade. KMTC’s partnership with HD Hyundai has been fruitful; in November 2024, the company placed an order for two additional 8,700 TEU ships, valued at approximately $115 million each, with deliveries scheduled for March 2027. This ongoing relationship with HD Hyundai underscores KMTC’s commitment to modernizing its fleet and enhancing its capacity to meet growing shipping demands.
