HMM has signed a 25-year shipping contract with Vale worth approximately KRW 4.7 trillion (US$3.4 billion) . Under the agreement, HMM will transport iron ore for the Brazilian mining company from 2030. The latest deal is HMM’s third major long-term contract with Vale. The companies signed two separate 10-year agreements in May and September 2025. Eight Newcastlemax vessels to serve contract HMM will deploy eight new 210,000 dwt Newcastlemax bulk carriers under the contract. The company announced the newbuilding order in June. Deliveries are scheduled to begin in 2030, in line with the start of the Vale contract. Each vessel will operate under the agreement for 25 years. New ships to feature tri-fuel engines The Newcastlemax vessels will feature tri-fuel propulsion engines capable of using methanol, ethanol and conventional bunker fuel. They will also feature LNG-ready and ammonia-ready designs . In addition, the vessels will be equipped with rotor sails to provide wind-assisted propulsion and improve fuel efficiency. HMM said the combination will support its efforts to operate a more sustainable fleet. HMM expands long-term contract portfolio The agreement further strengthens the relationship between HMM and Vale. “This long-term contract reaffirms our strong, strategic partnership with a premier global charterer,” an HMM spokesperson said. HMM added that it plans to expand its portfolio of long-term contracts to improve earnings stability. The post HMM signs $3.4 billion long-term shipping contract with Vale appeared first on Container News .