HMM Signs MOU for Vadhvan Port Development in India: "Targeting the Indian Market"

On January 23, HMM announced that it had signed a Memorandum of Understanding (MOU) with the Jawaharlal Nehru Port Authority (JNPA) of India for cooperation on the development of Vadhvan Port in India.

The signing ceremony, held in Mumbai, India on January 21, was attended by approximately 30 officials, including Daljung Jung, Head of HMM India Branch, Sarbananda Sonowal, Minister of Ports, Shipping and Waterways of India, and Unmesh Sharad Wak, Chairman of JNPA. Through this MOU, HMM has agreed to actively cooperate in the development and operation of Vadhvan Port.

At the "Memorandum of Understanding Ceremony for Vadvan Port Development" held in Mumbai, India on the 21st, (from right in the photo) Daljung Jung, Head of HMM India Branch, Sarbananda Sonowal, Minister of Ports, Shipping and Waterways of India, and Unmesh Sharad Wak, Chairman of JNPA, are taking a commemorative photo. Provided by HMM

The Vadhvan Port project is a large-scale initiative being pursued as the existing major port of India, Nhava Sheva, has reached full capacity. The Indian government aims to invest $9.4 billion by 2040, with the goal of making Vadhvan one of the world's top 10 container ports.

Vadhvan Port will gradually open from 2029, with a total of nine container terminals capable of handling approximately 23 million TEUs annually. With a natural water depth of 20 meters, the port can accommodate ultra-large container vessels of up to 24,000 TEUs operated by HMM. Its proximity to India's Dedicated Freight Corridor (DFC) and national highways also ensures strong connectivity to inland logistics.

An HMM official stated, "By securing a major hub port in India through this MOU, we will strengthen our competitiveness in container shipping and port operations. We will continue to invest in new terminals to expand our integrated logistics business, which is a key pillar of our mid- to long-term strategy."

Meanwhile, HMM is expanding its service routes to target the rapidly growing Indian market. The company currently operates routes such as INX (India-North Europe), which will launch in February this year, as well as FIM (India-Mediterranean) and IAX (India-East Coast North America).