Hyundai MM has confirmed it will order 20 new container vessels with a total capacity of over 350,000 TEUs. That fits both its own and the South Korean government’s development plans, and will add 1.1x its existing capacity to its fleet. That won’t necessarily cure its scale problem though. Assuming no scrapping Hyundai MM will only be 3% larger than Yang Ming and will just 45% the size of the next largest shipper, Evergreen. Financing, even with leasing, may be a major challenge. The group has only made an EBITDA profit once since 2Q 2015 and is expected by analysts to only just breakev...