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.

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.
11 Nov 2015
Top maritime officials in South Korea said a merger between Hanjin Shipping and Hyundai Merchant Marine was unlikely because the benefits of such a move are difficult to see and it could have significant negative implications for the wider economy.
03 Nov 2015
Hyundai Merchant Marine on Friday completed a 247.5 billion Korean won ($216.1 million) permanent convertible bond through a newly created entity called Hyundai Bulk Line, staving off a liquidity crisis and halting further talk of a merger with Hanjin Shipping.
28 Oct 2015
South Korea's second-biggest shipping company Hyundai Merchant Marine has refuted rumors that the government asked the carrier to merge with its bigger compatriot, Hanjin Shipping.
20 Oct 2015
The G6 Alliance plans to omit sailings from Asia to the Mediterranean and North Europe in November and December in response to expected low demand.
09 Oct 2015
South Korea’s container shipping companies Hanjin Shipping and Hyundai Merchant Marine are leading the country’s cautious financial recovery, but it’s unclear if the good times will last.
07 Oct 2015
Hyundai Merchant Marine said it will spin off its dry bulk division and its two U.S. West Coast container terminals as the Korean company seeks to bolster liquidity at its core container shipping business.