HMM signed a ₩4.70tn long-term freight contract with Vale International. Service is scheduled from April 1, 2030 through October 31, 2056. Vale may extend the term by up to five years and change the vessel fuel. HMM will bill each voyage within 10 business days after loading. The stated value equals 43.13% of HMM’s FY2025 revenue. It uses a ₩1,359.50 per dollar exchange rate and may change with exchange rates, fuel, routes and operating days.