Hyundai Merchant Marine

HMM ends 2018 $720m in the red, but has high hopes for new ships and alliances

Subsidised South Korean ocean carrier Hyundai Merchant Marine (HMM) continued to bleed money in the final quarter of 2018, to end the year some Won808bn ($720m) in the red.
It attributed the loss, which follows a $1.1bn deficit the previous year, to increased fuel costs, the Iran sanctions and “delay in rate recovery”.
HMM transported 4.46m teu in the 12 months, which was 10.6% higher than the year before, as it stepped …

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Carriers still aiming to add capacity on Asia-North Europe, despite softer demand

Despite warnings of uncertain times ahead for demand, ocean carriers plan to add around 10% more capacity to the Asia-North Europe route this year.
According to the latest Alphaliner analysis, with the addition of one new loop and the upsizing of other vessels, weekly capacity on the tradelane will surge by 28,000 teu to a weekly average of 300,000 teu from March.
This will add downward pressure on freight rates at the …

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Fewer mega-containerships arriving will help balance supply and demand in 2019

A “reduced appetite” for ordering ultra-large container vessels (ULCVs) and carriers instead aspiring to become global logistics integrators could finally balance container capacity supply with demand, according to new analysis from Drewry.
Indeed, at the end of last year Maersk’s chief executive, Soren Skou, told The Financial Times: “We for sure have to do some acquisitions in the logistics space, primarily to gain capability and scale.”
Currently, Maersk Line has just three …

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Service partnership between PSA and HMM launched

PSA International’s, Bharat Mumbai Container Terminals, BMCT, has welcomed the beginning of a regular service call from Hyundai Merchant Marine’s, HMM, China India Express service. The 8,562 TEU M.V. Hyundai Loyalty is one of six vessels involved in the service, which connects BMCT to important Far East markets and trade centres.

Mainly, the partnership launched on January 2. From the beginning of the service of the China India Express, the amount of 8.540 TEUs were managed in 42 hours.

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https://safety4sea.com/service-partnership-between-psa-and-hmm-launched/

2M and Zim extend vessel-sharing agreement to transpacific and Asia-Med

The 2M alliance and Zim are to extend their cooperation to include services from Asia to the US west coast and to the Mediterranean in what the Israeli carrier called a “game-changer agreement”.
Maersk Line and MSC’s “new strategic operational cooperation” with Zim follows the vessel sharing agreement between Asia and the US east coast that commenced in September.
Zim president and chief executive Eli Glickman said the new agreement with 2M …

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Customer trust restored, claims HMM chief – now we need to work better together

In his traditional new year message to staff, HMM president and chief executive Chang Keun Yoo has called on employees to help “put an end to this difficult period” by improving communication between departments.
The South Korean carrier lost over $500m in the first nine months of last year, but has gambled its future on a $2.6bn order of 12 23,000 teu and eight 14,000 teu vessels stemmed for delivery from …

The post Customer trust restored, claims HMM chief – now we need to work better together

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