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.
07 Mar 2016
Hyundai Merchant Marine and Hanjin Shipping would stand a better chance of surviving their crushing debts if the carriers were merged, something that Drewry believes is now a distinct possibility.
Hyundai New York container ship
29 Feb 2016
Hyundai Merchant Marine has once again rejected speculation of a merger with fellow South Korean carrier Hanjin Shipping and clarified the role of a financial adviser serving the ailing ocean carrier.
18 Feb 2016
The depth of Hyundai Merchant Marine’s financial troubles was revealed in a letter from its CEO to owners of the South Korean line’s chartered-in fleet pleading for discounts, saying the carrier was near collapse.
16 Feb 2016
CMA CGM and Cosco are leading efforts to create a new vessel-sharing alliance that could include Evergreen Line and OOCL and would shake up three of the four major east-west carrier groupings, the Alphaliner newsletter reported.
16 Feb 2016
Fifteen leading ocean container carriers, including Maersk Line, Mediterranean Shipping Co. and CMA CGM, have offered to change their practices for setting freight rates to settle an antitrust probe, the European Commission said Tuesday
27 Jan 2016
LONG BEACH, California — Container lines in the eastbound Pacific should see a moderate rate recovery in the second half because overcapacity that sent rates plummeting last year has bottomed out, according to David Arsenault, president and CEO of Hyundai Merchant Marine America.
02 Jan 2016
High debt levels at Hanjin Shipping and Hyundai Merchant Marine will make it difficult for the South Korean container lines to take advantage of their government’s new S1.2 billion fund to assist the country’s struggling shipping and shipbuilding companies.
23 Dec 2015
Russian regulators won’t levy fines against the five container lines it says colluded on prices in 2012 and 2013 on lanes connecting to Asia until next year.
04 Dec 2015
In the wake of several highly-publicized financial difficulties experienced by South Korea shipping companies, the country’s Minister of Oceans and Fisheries has called on them to undertake voluntary restructuring.
26 Nov 2015
South Korea's government plans to conduct research on ultra-large container ships, including the return on investment of the vessels, their impact on ports and the investment needed at terminals to handle them.
18 Nov 2015
Hyundai Merchant Marine posted a loss of 24 billion South Korean won ($20.5 million) in the third quarter, amid ongoing speculation of a merger with its bigger compatriot Hanjin Shipping.