HMM to order up to 10 boxships, tankers

Korea’s Hyundai Merchant Marine (HMM) has said it will order up to 10 new ships next year as profitability improves.

The restructured owner’s CEO Yoo Chang-keun told reporters that outdated vessels will be replaced.

"We are planning to place orders for five containerships and three or five oil tankers," he said.

The company has previously said it wants new VLCCs in its fleet.

Yoo