By Mike Wackett (The Loadstar) - With Hyundai Merchant Marine (HMM) about to launch an Asia-North Europe service deploying panamax-size vessels, maritime consultant Drewry has debunked the theory that unit slot costs on bigger ships will always work out cheaper. HMM surprised the industry with its pledge to offer a weekly loop to North Europe outside its slot charter … [Read more...]
Loss-Making HMM Stays Bullish, But Its Goal of Becoming a Leading Carrier Seen as ‘Pipe Dream’
By Mike Wackett (The Loadstar) - Hyundai Merchant Marine’s long-term aspiration to become a “leading global carrier” with a market share of 5% is a pipe-dream, according to maritime consultant Drewry. It advises the ambitious South Korean carrier to instead “focus its energies on restoring its profitability and reputation”. HMM’s 2018 strategy is referred to, in a … [Read more...]
HMM Losses Exceed $1 Billion, But Carrier Still Plans to Order More Megaships
By Mike Wackett (The Loadstar) - Hyundai Merchant Marine (HMM) slumped to a KRW1.2trn ($1.1bn) net loss in 2017. And this follows a KRW484bn loss the year before, bucking the industry trend of improved profitability. However, seemingly undaunted by the magnitude of its continued losses, the South Korean carrier is to invest $95m in 30,000 new containers and is reported to be … [Read more...]
Hyundai Merchant Marine Planning to Order 22,000 TEU ‘Megaships’ in 2018
South Korean shipping line Hyundai Merchant Marine has revealed plans to construct 22,000 TEU containerships in 2018 to boost its competitiveness within the global shipping sector. The revelation was made this week by HMM President & CEO, C.K. YOO, during the company's 2018 strategy meeting, intended to map out growth strategies for the coming year. “This will be the … [Read more...]
HMM Confirms Order for Five VLCCs
South Korean shipping company Hyundai Merchant Marine has confirmed that it has signed a contract for the construction of at least five VLCCs at Daewoo Shipbuilding & Marine Engineering (DSME). The finalized contract follows a Letter of Intent signed by the two parties back in April. The contract calls for the construction of five 300,000 dwt Very Large Crude Carriers … [Read more...]