HMM Discloses KRW 4.6972 Trillion Long-Term Cargo Transportation Contract

[Financial News] HMM announced on the 8th that it had signed a long-term cargo transportation contract worth KRW 4.6972 trillion with Vale International S.A.
The contract value represents 43.13% of HMM’s consolidated revenue for 2025. The sales and supply regions include Brazil and China, and the contract runs from April 1, 2030, to October 31, 2056. The contract was signed on the 7th. There are no contract deposits or advance payments, and payment is due within 10 business days after loading for each voyage.
HMM explained, "The contract start and end dates may change depending on the vessel delivery schedule and the number of operating days, respectively." It added, "At the counterparty’s option, the contract period may be extended by up to five years, or the vessel’s propulsion fuel may be changed. Accordingly, the contract value may also change."

[email protected] Doo-sun Choi Reporter