HMM has signed a long-term shipping contract valued at approximately KRW 4.7trn with Brazilian mining company Vale.
HMM had previously, in June 2026, disclosed an order for eight new 210,000 dwt Newcastlemax bulk carriers which will feature tri-fuel propulsion engines capable of operating on methanol, ethanol, and bunker fuel. These vessels will be built with an ‘LNG and Ammonia Ready’ design and fitted with rotor sail wind-assisted propulsion systems (WAPS) to maximise fuel efficiency. The newbuilds are scheduled for sequential delivery beginning in 2030.
Under the contract, HMM will transport iron ore starting in 2030, with a contract term of 25 years per vessel. This marks HMM’s third major long-term contract with Vale, following two 10-year contracts secured in May and September 2025.
HMM says that the long-term contract reaffirms its strong, strategic partnership with a premier global charterer. The company remains committed to strengthening earnings stability by expanding the portfolio of long-term contracts, while continuing to advance sustainable and high-value fleet operations.
Image: HMM has secured a further major contract with Vale (source: HMM)
