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.

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.
13 May 2016
Hyundai Merchant Marine is working to assure the shipping public that it will continue to remain operational after the revelation that the South Korean carrier had been left out of the world’s newest shipping alliance, THE Alliance.
10 May 2016
Hyundai Merchant Marine will meet with bondholders to offer a repayment plan that will ensure its survival over the coming years.
02 May 2016
Hanjin Shipping and Hyundai Merchant Marine have confirmed they are in discussions with other container lines on forming alliances.
28 Apr 2016
The struggles of South Korea's largest container lines have created a new top shipowner in the country.
07 Apr 2016
Global container lines operating in Russia that were found guilty of collusion in 2012 and 2013 are appealing the controversial decision of Russia’s Federal Anti-Monopoly Service that threw a shadow on their image in the country.
07 Apr 2016
Hyundai Merchant Marine, teetering on the brink of bankruptcy, aims to reach an agreement with its ship charterers by the end of April or in early May, securing a critical pillar of its restructuring plan.
31 Mar 2016
Container lines in the G6 Alliance have canceled additional sailings on Asia-Europe routes where demand has been slack and rates have plunged to rock-bottom levels.
29 Mar 2016
Container lines are unlikely to go under despite freight rates falling to historical lows and zero freight being offered on some routes out of Asia, with governments and creditors expected to step in and salvage failing carriers, believes Drewry.
28 Mar 2016
Hyundai Merchant Marine is selling its stake in the Busan New Port in an effort to stave off bankruptcy ahead of this year’s maturation of debts valued at 382 billion South Korean won ($334 million) with another 606 billion won due in 2017.
17 Mar 2016
The Korea Development Bank is giving Hyundai Merchant Marine some breathing room on its debts after other creditors of the container line rejected its offer to reschedule debt, edging the company closer to a potential bankruptcy.
14 Mar 2016
South Korea’s shipping lines are adding services to Indochina in order to meet current demand and future growth as China’s economic expansion slows and other Northeast Asia economies reach maturation.