Hyundai Merchant Marine

Hyundai Merchant Marine is the world’s 15th-largest container shipping company, with a fleet of 160 vessels. Established in 1976 with headquarters in South Korea, Hyundai has formed a global network with 28 subsidiaries, 76 branches, six overseas offices and 10 liaison offices.

Hyundai Merchant Marine, which is a part of the Hyundai Group, posted revenues of KRW 6.9 trillion in 2013 — down 10.4 percent year-on-year. The company recorded a net loss of KRW 351 billion, down 32.5 percent from the previous year’s net loss of KRW 520 billion.

Hyundai was the ninth-ranked container carrier in U.S. containerized import trade in 2013, with volume of 796,509 TEUs, up 0.9 percent year-over-year, giving it market share of 4.4 percent. It was No. 9 in U.S. containerized export trade in 2013, with volume of 796,509 TEUs, up 2.6 percent year-over-year and market share of 4.0 percent. For more carrier rankings see the JOC’s Top 40 Container Carriers special topic.

29 Jun 2016
Hyundai Merchant Marine’s creditors have extended a suspension of debt repayments that was to expire Wednesday.
27 Jun 2016
Hyundai Merchant Marine discussions with Maersk Line and Mediterranean Shipping Co. to join their 2M Alliance could indicate any number of scenarios.
24 Jun 2016
The South Korean carrier is the first container line to make such an announcement and the news has given rise to suggestions that other carriers may soon take a similar approach to the International Maritime Organization’s new rule.
23 Jun 2016
The 2M Alliance might be getting a third member.
16 Jun 2016
Hyundai Merchant Marine’s sailing into the THE Alliance is expected to be smooth.
14 Jun 2016
A South Korean government minister has left open the possibility of a merger between Hanjin Shipping and Hyundai Merchant Marine.
10 Jun 2016
Hyundai Merchant Marine on Friday said it had reached an agreement with shipowners to secure lower charter rates.
01 Jun 2016
Hyundai Merchant Marine announced Wednesday that it has reached a resolution with holders of all five bond issues that are maturing in 2016 and 2017.
31 May 2016
Hyundai Merchant Marine said on Tuesday that the first three of five meetings with bondholders to renegotiate credit terms were successful.
26 May 2016
Hyundai Merchant Marine has said its financial restructuring will allow it to acquire mega-ships.
24 May 2016
Hyundai Merchant Marine said Tuesday that it had met the requirements necessary to proceed with bondholder meetings scheduled for May 31 and June 1.
20 May 2016
Hyundai Merchant Marine has ended negotiations with its ship charterers to secure lower rates.