South Korea’s HMM is the latest shipping company to jump on the strong car carrier market.

The Seoul-based organisation is said to have invested huge profits made from the liner business to enter the niche sector with an order of three large pure car/truck carrier (PCTC) newbuildings.

Industry sources said HMM has contracted Guangzhou Shipyard International (GSI) in China to build three 8,600-ceu newbuildings.