By Alexander Whiteman (The Loadstar) - Hyundai Merchant Marine (HMM) has calmed the waters that led it to the brink of bankruptcy with first-quarter results showing a reduction in operating losses and an upturn in volumes handled. The heir-apparent to Hanjin as South Korea’s de facto flag-carrier, HMM reduced its operating loss to $117m in the three months to March, compared … [Read more...]
Hyundai Merchant Marine Forms Intra-Asia Shipping Alliance
South Korean shipping company Hyundai Merchant Marine has signed an agreement with smaller Asia-only carriers Heung-A Shipping and Sinokor Merchant Marine to form a niche shipping alliance targeting intra-Asia trade. The new alliance, called HMM + K2, is planned to begin operations in March 2017 and will automatically renew every two years. The network will cover Japan, … [Read more...]
Hyundai Merchant Marine Preferred Bidder for Hanjin Shipping’s Algeciras Terminal
SEOUL, Nov 25 (Reuters) - South Korea's Hyundai Merchant Marine Co Ltd (HMM) said on Friday it was chosen as preferred bidder to buy a port terminal in Algeciras, Spain, partly owned by Hanjin Shipping Co Ltd. HMM said in a statement it is expected to finalise its purchase of a 100 percent stake in Total Terminal International Algeciras in late December from the current … [Read more...]