HMM

HMM aspiring to post US$10 bln in sales

Hyundai Merchant Marine Co. (HMM), South Korea’s largest shipper, said Sunday that it is aiming to post US$10 billion in sales by 2022.

The target announced at a gathering of employees on HMM’s corporate vision in Seoul last week calls for building up its cargo hauling capacity to 1 million twenty-foot equivalent units (TEUs) annually.

The company as part of its effort to become a global player has also placed orders for 12 23,000 TEU-class and eight 15,000 TEU container ships last month. It said...

http://container-news.com/hmm-post-us10bln-sales/

Gov’t to inject $706 million into HMM

The government is considering an injection of 800 billion won ($706 million) into Hyundai Merchant Marine Co., the nation’s leading oceangoing shipping company, within this year to help it tide over mounting losses, industry sources said Saturday (10/13/2018).

The company’s largest-shareholder Korea Development Bank and the state-run maritime business promotion agency Korea Ocean Business Corp. (KOBC) said they are reviewing a plan in which Hyundai Merchant issues bonds and the two purchase 400...

http://container-news.com/govt-inject-706m-hmm/

South Korea hands $5 billions to HMM for megaships’ order

The new state backing will finance orders for megaships as the container-ship operator struggles to stay afloat

South Korea’s Hyundai Merchant Marine 011200 -5.38% is getting another $5 billion in state funding to finance a series of new orders for megaships as the company tries to compete with bigger Asian and European rivals in a difficult container shipping market.

HMM, the country’s de facto flag carrier after the collapse of Hanjin Shipping Co. in 2016, will spend $2.8 billion to buy 20...

http://container-news.com/south-korea-hmm-order/

Anger in Europe as state subsidies for South Korean carrier HMM soar

State-owned Korea Ocean Business Corporation (KOBC) has, reportedly, signed off on some W6.15trn ($5.4bn) of new funding for the country’s biggest ocean carrier, Hyundai Merchant Marine (HMM) – but much of this cash will be needed to cover continued operations.
KOBC, launched in July this year to support South Korea’s ailing shipping industry, has already supported HMM with a $740m sale-leaseback transaction on 10 of its ships, based on the original value …

The post Anger in Europe as state...

https://theloadstar.co.uk/anger-europe-state-subsidies-south-korean-carrier-hmm-soar/

HMM will receive 20 eco-friendly mega vessels

On September 28th, HMM signed the formal contracts for its twenty eco-friendly mega containerships with three shipyards – Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI).

DSME and SHI will build seven and five 23,000 TEU containerships, respectively, which are expected for delivery in the second quarter of 2020. HHI will construct eight 15,000 TEU containerships to be delivered in the second quarter of 2021.

The Ceremonies were...

http://container-news.com/hmm-receive-eco-friendly-mega-vessels/

HMM signs contracts for 20 eco-friendly mega boxships

Hyundai Merchant Marine (HMM) informed that it has finalised the contracts for its twenty eco-friendly mega containerships with three shipyards. The order includes twelve above-20,000-TEU and eight 14,000-TEU mega boxships.

Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries (SHI) will construct seven and five 23,000 TEU containerships, which will be delivered in the second quarter of 2020.

Hyundai Heavy Industries (HHI) will build eight 15,000 TEU containerships, which...

https://safety4sea.com/hmm-signs-contracts-for-20-eco-friendly-mega-boxships/

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