HMM Sets Sights on 25 Pct Higher Revenue in 2020

Korean shipping giant Hyundai Merchant Marine (HMM) roughly anticipates a 25% improvement in its revenue for 2020, reaping the fruits from the impending deployment of its mega container vessels.

 Twelve 24,000 TEU containerships are scheduled to be sequentially delivered as of April this year and thereby deployed in the Asia-Europe trade under the service network of THE Alliance.

 “Once HMM operates mega container vessels in earnest, overall sales volumes and revenue is expected to be increased accordingly based on a range of efforts to enhance its sales competitiveness, in particular, in the field of back-haul business,” an HMM spokesperson told World Maritime News.

The spokesperson added that the rise in revenue is expected “notwithstanding continued uncertainties in the global trade environment.”

 “In addition to the rise in revenue, it is needless to say that 2020 will be the year to improve our profit structure as well,” he concluded.

HMM is expected to add some 34 ships to THE Alliance’s network this year, adding up to 519,000 TEUs.

Last week, THE Alliance unveiled an expanded service network for 2020 as it welcomed HMM as a full member.

With the US Federal Maritime Commission’s acceptance of HMM membership, the carrier will join its three counterparts in the alliance, Hapag-Lloyd, Ocean Network Express (ONE), and Yang Ming.

THE Alliance plans to launch the upgraded product package around April 1, 2020.

World Maritime News Staff

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