HMM signs Vale contract while HMM stock trades on KOSPI

HMM (ISIN KR7011200003) signed a KRW 4.70 trillion long-term shipping contract with Brazil's Vale on September 8, 2026, while HMM stock trades on KOSPI. According to Yonhap on September 8, the agreement covers eight bulk carriers, with each vessel operating under a 25-year contract from 2030.

Vale deal expands bulk exposure

The ships will carry bulk cargo for Vale and are scheduled for sequential delivery from 2030. Yonhap reported that the 210,000-ton Newcastlemax vessels will use tri-fuel propulsion capable of running on methanol, ethanol and conventional fuel oil.

The contract is HMM's third major long-term arrangement with Vale, following two 10-year agreements signed in 2025 worth a combined KRW 1.10 trillion. The structure gives HMM a contracted bulk-shipping revenue stream while the container business remains exposed to freight-rate changes.

Second-quarter profit improved

ATS View reports that HMM generated KRW 3.40 trillion in revenue in the second quarter of 2026, up 29.70 percent from the same quarter a year earlier. Operating profit reached KRW 354.1 billion, equal to a 10.40 percent margin, while net income was KRW 411.4 billion.

ETF Shopping records the operating-profit increase at 51.90 percent year on year, contrasting with a 12.70 percent decline in net income. That split matters because the Vale contract strengthens the bulk segment, while earnings quality still depends on costs, freight rates and the mix between containers and bulk cargo.

Stock remains below its yearly high

HMM was last at KRW 21,150 on KOSPI on October 1, 2026 at 3:30 p.m. KST. The quote stood 15.23 percent below the 52-week high of KRW 24,950 and above the 52-week low of KRW 17,910, while market capitalization was KRW 19.9 trillion.

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