The new order for mega-ships gives Hyundai Merchant Marine the container shipping industry's third-largest orderbook.
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.
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Press Releases
02 Apr 2018
Hyundai Merchant Marine will sign an agreement to cooperate with Sinokor Merchant Marine and Heung-A Shipping for intra-Asia routes to facilitate the anticipated merger of the latter two companies’ container shipping operations.
29 Mar 2018
After six years of losses, the container shipping industry ended 2017 with a profit of about $7 billion. Financial reports of the 13 carriers do show improvement but do not yet reflect a full recovery — a recovery that should continue in 2018, given the strengthening global economy, unless political issues intervene.
15 Mar 2018
SM Line Corporation has again appealed to its larger compatriot rival Hyundai Merchant Marine to collaborate on trans-Pacific routes.
28 Feb 2018
HMM says mega-ships will be ordered in the first half of 2018 but provided no info on the number of vessels or their sizes.
27 Feb 2018
Analysts are trying to figure out HMM's growth plans, with the South Korean carrier widely expected to place its mega-ship order.
21 Feb 2018
After a year off, Hyundai Merchant Marine is about to get back into Asia-Europe, but not with the size ships that are traditionally deployed on the trade.
13 Feb 2018
It was a hefty loss for Hyundai Merchant Marine in 2017, despite the South Korean flagship posting a far better operating result.
08 Feb 2018
HMM has been South Korea’s flagship container carrier since the bankruptcy of Hanjin Shipping in February 2017.
06 Feb 2018
The new AAL-HMM joint-service will operate five ships — four 30,100-deadweight-ton vessels (dwt) from HMM and one 31,000-dwt vessel from AAL.
16 Jan 2018
Qatar Ports is implementing a “comprehensive plan” to expand the network of direct shipping calls to Hamad port.
11 Jan 2018
In a recent interview, Soo Cheon Lee, co-founder and chief investment officer at investment bank SC Lowy, said SM Line would have to find partners on the trans-Pacific if it was to maintain its competitive edge.
19 Dec 2017
SM Line is hoping to partner with its larger Korean rival HMM as the carrier plans to launch a new trans-Pacific service.
12 Dec 2017
HMM said in December that Samsung SDS, LG Electronics, Hyundai Glovis, and several other companies have expressed interest in Asia-Europe rail.
15 Nov 2017
Yang Ming and HMM have said it is too early to confirm whether mega-ships will be included on their order books.
12 Oct 2017
The low-sulfur fuel rule taking effect in 2020 is likely to usher in “a paradigm change” akin to the introduction of mega-ships.
07 Sep 2017
Blockchain pilot programs have been flourishing this year.
11 Aug 2017
Debt-stricken carriers Yang Ming and HMM have used government support and the improving market conditions to raise revenue, cut costs, and pare down debts.
10 Aug 2017
Doubts were raised on how members of the newly formed Korean shipping alliance will be able to cooperate on the fiercely competitive intra-Asia trade.
26 Jul 2017
Carriers large and small battle for market share and profits in the Pacific.
05 Jul 2017
Hyundai affiliate CUT is closing its terminal in Los Angeles. Could it be followed by other terminal shake-ups resulting from restructuring of carrier alliances?
17 May 2017
Although vessels of more than 9,000 TEU have called at Santos, they have not been as long as the Hyundai Loyalty.
05 Apr 2017
South Korean carrier Hyundai Merchant Marine posted an operating loss of $595 million for 2016, as it enjoyed its largest quarterly revenue of the year.
28 Mar 2017
Although the 2M Alliance will launch April 1, the HMM agreement will go into effect as soon as March 30.
16 Feb 2017
The move furthers the South Korean carrier’s efforts to generate cost-reducing synergies.
13 Feb 2017
Hyundai Merchant Marine in 2016 reduced its financial losses 99.3 percent.
13 Feb 2017
Maersk Line and MSC have expanded their Asia-North Europe and trans-Pacific services to accommodate the volumes from a slot deal signed with HMM and Hamburg Süd.
01 Feb 2017
The deal includes all of Hanjin’s equity interests and shareholder loans in Total Terminals International.
18 Jan 2017
In an exclusive interview with JOC.com, Hyundai Merchant Marine President and CEO C.K. Yoo lays out the plans of South Korea's largest container line in 2017.
03 Jan 2017
The "HMM + K2 consortium" will initially facilitate vessel- and slot-sharing.
29 Dec 2016
Industry analyst doubts Hyundai Merchant Marine’s goal of a 5 percent share of the global container market by 2021.
13 Dec 2016
HMM failed to gain membership of the 2M Alliance, but the slot-sharing deal it signed up to will see the Korean carrier paying a heavy price.
11 Dec 2016
Hyundai to enter slot-sharing deal with Maersk and MSC, but it will be no 2M Alliance membership.
22 Nov 2016
Mediterranean Shipping Co. said Tuesday that it’s still discussing allowing Hyundai Merchant Marine into the 2M Alliance, in direct contrast to its alliance partner, Maersk Line, telling the market Friday that a formal membership is off the table.
18 Nov 2016
Hyundai Merchant Marine will not join Maersk Line and Mediterranean Shipping Co. in the 2M Alliance.
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