South Korean container carrier Archives

HMM remains cautious even as profit jumps

13 November 2020

HMM said Friday it posted third-quarter net profit of $20.5 million, a huge swing from the $103.4 million loss in Q3 2019.

But the South Korean container carrier was cautious in its outlook.

“The reemergence of the COVID-19 pandemic in the winter season is indeed a serious threat to [the] global economy,” HMM said in its earnings release. “In addition, the continued trade tensions between the U.S. and China and, most recently, the U.S. presidential election will have a considerable impact on...

https://s29755.pcdn.co/news/hmm-remains-cautious-even-as-profit-jumps

HMM’s 12th 24,000-TEU container ship en route to Rotterdam

5 October 2020

HMM said all 12 of its 24,000-twenty-foot equivalent unit (TEU) container ships are now carrying cargo.

The last of the series, the HMM St. Petersburg, departed the Port of Yantian in China with 19,529 TEUs on board on Wednesday. The St. Petersburg will transit the Suez Canal en route to the Port of Rotterdam, the Netherlands, with an estimated arrival on Oct. 23.

“This is a major milestone for us to expand our presence in the global market in close cooperation with THE Alliance,” HMM President...

https://s29755.pcdn.co/news/hmms-12th-24000-teu-container-ship-en-route-to-rotterdam

HMM may explore autonomous ships, trans-Atlantic trade

23 September 2020

HMM said it will use data collected at its newly opened fleet control center in part to explore the commercial viability of autonomous ships. The South Korean carrier also may be exploring reentry into the trans-Atlantic trade.

HMM has begun monitoring and directing operations of its existing vessels from the control center at the shipping line’s research and development facility in Busan, South Korea.

The HMM fleet includes 12 newbuilds, each with a capacity of 24,000 twenty-foot equivalent...

https://s29755.pcdn.co/news/hmm-may-explore-autonomous-ships-trans-atlantic-trade

HMM makes steep climb toward profitability

12 August 2020

Despite a global economy walloped by the coronavirus pandemic, HMM on Wednesday reported an incredible 90% net profit improvement in the first half of the year.

Even with the steep climb, HMM’s net profit remained in the hole at negative 37.5 billion Korean won (minus $31 million) for the first six months of 2020. Still, that number was a drastic move from the trench of negative 379.2 billion won (minus $314 million) reported for the first half of 2019. In other words, that climb took HMM up...

https://www.freightwaves.com/news/hmm-makes-steep-climb-toward-profitability