Hyundai Merchant Marine

HMM joins THE Alliance’s three-loop Asia-Middle East network

HMM has muscled its way into THE Alliance’s Asia-Middle East offering in the newly launched network.
However, the South Korean carrier has still not decided to participate in THEA’s transatlantic network, after it pulled out of its slot charter deal with the 2M in May 2018, following months of heavy losses and being obliged to compensate Maersk and MSC for the 700 slots a week deal.
When THE Alliance published its expanded …

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HMM unveils 2019 results as SM Line replaces it in 2M transpac tie-up

Despite a decline in fourth-quarter revenues, South Korean carrier Hyundai Merchant Marine (HMM) saw annual sales last year increase by 5.6%  a return to profitability in Q4.
It said its 2019 revenue was KW5.4trn (US$4.67bn), while its operating loss narrowed 45.6% to KRW304bn, as it prepares to join THE Alliance and begin deploying its new series of ultra-large container vessels (ULCVs) at the beginning of April.
The reduced operating loss represented a …

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HMM set to take delivery of the latest ‘world’s biggest boxship’ in April

South Korean carrier Hyundai Merchant Marine (HMM) is set to take the crown as operator of the world’s largest containership in April when it takes delivery of the HMM Algeciras.
According to a research note from Alphaliner today, the line disclosed that the new vessel, the first in a series of seven under construction at the DSME yard in South Korea, will have a nominal capacity of 23,964 teu.
The largest box …

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THE Alliance launches 20-21 network schedule, with fewer weekly services

THE Alliance yesterday published its 2020-21 network, which will launch on 1 April.
And despite the incorporation of HMM and its newbuild ULCVs, THE Alliance (THEA) will still lag behind its 2M and Ocean alliance rivals in terms of the number of services and big ships deployed between Asia and North Europe, according to Alphaliner.
The Ocean Alliance’s east-west network, also launching on 1 April, will feature seven Asia to North Europe …

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Hapag-Lloyd signs slot charter deal for rival alliance’s Asia-North Europe strings

THE Alliance lead line Hapag-Lloyd has signed a slot charter agreement with rival 2M alliance partners Maersk and MSC to start in March.
On Friday, the German carrier said: “The addition of these services will enable Hapag-Lloyd to offer an even higher frequency of weekly departures and more routing options, as well as to directly serve additional ports with high schedule reliability.”
It added that details of the 2M loops or services …

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https://theloadstar.com/hapag-lloyd-signs-slot-charter-deal-for-rival-alliances-asia-north-europe-strings/

Japanese shipping bosses bullish for the new year, but all fear demand slowing

The traditional Japanese shipping lines’ new year messages to staff were generally positive, reflecting the improving financial results of the industry – but concerns remain over a possible slowdown in demand.
K Line president and chief executive Yukikazu Myochin said the “poor market conditions and a temporary deterioration in the bottom line, caused by the teething problems of ONE’s first year of operation”, were in the past and that the group …

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Are carriers boosting low-sulphur fuel surcharges to make up for low rates?

Low-sulphur surcharges announced by ocean carriers on 1 December show “significant variations”, even within alliances, according to Alphaliner analysis.
As The Loadstar reported last Friday, carriers appear to have succeeded in passing on most of the perceived cost implications of IMO 2020 to the spot market and short-term shipper contracts, but the consultant questioned the lack of transparency in setting the surcharges.
“The wide variations in the new fuel surcharge and lack …

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