HMM Sees Q3 Profit Surge, Q4 Outlook Uncertain

For the first nine months of 2024, HMM’s revenue of KRW8,545bn was 35% higher than the same period last year, and net profit of KRW2,884bn stood 309% up in 2023.
The increases over 2023’s results reflect the impact of post-pandemic cooling on the container market in 2023, and the subsequent increase in fortunes for container lines since the Red Sea crisis led operators to take the Cape of Good Hope route instead of Suez.

HMM reported revenues of KRW3,552bn ($2.54bn) for the third quarter of...