South Korea's flagship shipping company HMM has confirmed a major newbuilding order totaling $2.8 billion. The company has contracted HD Hyundai Heavy and Hanhwa Ocean to construct twelve LNG dual-fuelled 13,000 TEU container vessels. Additionally, HMM revealed it has signed contracts for two new VLCCs (Very Large Crude Carriers), though the yard responsible for these was not disclosed. The deal is part of HMM's ongoing fleet expansion strategy, which aims to nearly double its container fleet and triple its tanker and dry bulk fleets by 2030. HMM is also rumored to be considering the acquisition of local rival Polaris Shipping. With this latest order, HMM's container fleet is expected to surpass the 1 million TEU milestone, solidifying its position as the world's eighth largest container carrier.