HMM is said to have wasted no time in implementing its recently unveiled five-year plan to expand its fleet and global footprint.

The Seoul-based company has kicked off its huge KRW 15trn ($11.4bn) investment drive to grow its fleet and shipping and logistics facilities with an order for three container ship newbuildings.

Shipbuilding sources said HMM has inked the contract with Hyundai Mipo Dockyard (HMD).