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.

23 Aug 2016
No surprises as a weak October encourages G6 to withdraw sailings on major east-west trades.
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.
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.