Search results for: HMM

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  • 27 April 2020
    Vessels

    The 24,000 TEU HMM Algeciras, the world’s largest containership, has headed out to sea on its maiden voyage. The ship left Geoje, Korea following its naming ceremony on April 23 setting sail for China. It departed from the port of Qingdao on Sunday and is heading for the Port of Busan, according to the latest […]

  • 28 February 2014
    Business & Finance

    Hyundai Merchant Marine (HMM) will sell the LNG transport business for 1.1 trillion KRW ($1.03 billion) to solve the market’s concern on HMM’s financial status. HMM said that it sells the LNG business unit as part of its 3.3 trillion valued self-help plan presented last Decembe. HMM has also said that it expects to gain […]

  • 13 December 2016
    Business & Finance

    South Korean shipping company Hyundai Merchant Marine (HMM) revealed its plans to take 5 percent of global market share by 2021 by means of various measures including its latest agreement to join the 2M network, local media reported. Currently controlling 2.2 percent of global container capacity, the firm said it intends to improve cost competitiveness […]

  • 12 February 2014
    Vessels

    Hyundai Merchant Marine (HMM) of South Korea aims to sell its LNG carrier business to IMM Investment Corp for 1.1 trillion won (US $1.03 billion). Selling the LNG business is part of parent Hyundai Group’s plan to raise support funds to pay off debt and HMM expects to complete the deal in the first half […]

  • 11 April 2013
    Business & Finance

    HMM recently converted its 8,600TEU container vessel, Hyundai Brave, into an eco-friendly vessel. This ‘green renovation’ is a first in Korea and only the second occurrence of such a transformation in the world. One feature of the conversion related to what is known as the bulbous bow: this protrudes at the front of a ship […]

  • 24 April 2019
    Business & Finance

    The new CEO of HMM revealed plans to “consolidate the relationship” with 2M carriers.

  • 20 May 2019
    Business & Finance

    Hyundai Merchant Marine launches its new corporate identity to elevate brand equity.

  • 21 January 2020
    Business & Finance

    HMM roughly anticipates a 25% improvement in its revenue for 2020.

  • 15 December 2016
    Business & Finance

    South Korean container carrier Hyundai Merchant Marine (HMM) has pulled out of a joint bid with the Mediterranean Shipping Company (MSC) to acquire a majority stake in an operator of a container terminal at California’s Port of Long Beach, the Wall Street Journal reports. Earlier this month, HMM and MSC teamed up to jointly bid on a […]

  • 24 September 2014
    Business & Finance

    South Korean shipping company Hyundai Merchant Marine (HMM) has raised USD 112.5 million (117 billion won) by selling new shares, the shipping line said. HMM floated 6.19 million convertible preferred shares to Market Vantage Ltd., a Hong Kong-based  investment firm, for 60 billion won. Market Vantage already has a stake in Hyundai Merchant Marine. According to […]

  • 14 December 2016
    Business & Finance

    A ”strategic cooperation” agreement between Hyundai Merchant Marine (HMM) and the 2M vessel sharing alliance comprising Maersk Line and the Mediterranean Shipping Company (MSC) will limit the South Korean container carrier’s ability to grow in the future, according to Alphaliner. The fact that HMM could only secure arrangements with Maersk Line and MSC outside the 2M scope […]

  • 23 April 2020
    Vessels

    South Korean shipping major HMM has held a naming ceremony for the first of its twelve 24,000 TEU containerships. The HMM Algeciras, described as the world’s largest boxship, was named at Daewoo Shipbuilding & Marine Engineering’s (DSME) Okpo shipyard in Geoje, Korea. The ceremony was presided by the President of the Republic of Korea Moon […]

  • 21 March 2019
    Business & Finance

    Hyundai Merchant Marine signed an MoU to establish a win-win fund for scrubber installation.

  • 27 June 2016
    Business & Finance

    Financially troubled Hyundai Merchant Marine (HMM) is in talks with 2M carriers Maersk Line and MSC to join their alliance. However, these three carriers are not obvious partners, in terms of culture, size or trade mix, which hints at a hidden story, according to shipping consultancy Drewry. Last week, the financially troubled South Korean carrier Hyundai […]

  • 18 May 2020
    Business & Finance, Business developments & projects, Market outlooks

    South Korea’s shipping major HMM closed the first quarter of this year with a significantly narrowed net loss, driven mostly by the company’s cost-reduction measures and high profitability of tanker business.

  • 24 May 2018
    Business & Finance

    Hyundai Merchant Marine is ending its two Transatlantic loops to concentrate on its core trades.

  • 22 May 2020
    Vessels

    South Korean shipbuilding major Daewoo Shipbuilding & Marine Engineering (DSME) has delivered HMM Copenhagen, its second 24,000 TEU containership from a batch of twelve units, to the compatriot shipping company HMM. The newbuilding joins its sister ship HMM Algeciras in taking the title of the world’s largest containerships based on carrying capacity. HMM Copenhagen is […]

  • 14 June 2016
    Business & Finance

    South Korean shipping company Hyundai Merchant Marine (HMM) and its compatriot Hanjin Shipping could be merged if they succeed in normalizing their management, The Korea Times cited Financial Services Commission (FSC) Chairman Yim Jong-yong. The South Korea’s government said that if the companies manage to achieve the goal, it would consider a number of possibilities, one of which would […]

  • 10 July 2017
    Business & Finance

    South Korean shipping company Hyundai Merchant Marine (HMM) has signed a memorandum of understanding (MOU) with terminal operator Saigon Newport Corporation (SNP) for joint cooperation on port development in Vietnam.  The signing ceremony took place at Cat Lai Terminal in Ho Chi Minh City, Vietnam, on July 6.  Both parties intend to develop port and container […]

  • 2 April 2020
    Business & Finance

    The delivery of 24,000 TEU containerships to HMM will not be delayed.

  • 10 September 2013
    Business & Finance

    On September 3rd, Hyundai Merchant Marine (HMM) opened a new ODCY (Off Dock Container Yard) in Qingdao, China. The new ODCY is HMM’s first ODCY in China. Previously in 2012, HMM advanced into the Chinese logistics market establishing a distribution joint venture, Shandong Jiaoyun Hyundai Logistics (SJHL), with state-run Shandong Province Communication and Transport Group(SPCT). […]

  • 1 March 2013
    Business & Finance

    On February 14th, HMM signed an 18-year coal delivery contract worth KRW 760 billion, with three power corporations in the KEPCO (Korea Electric Power Corporation) stable. These are: Korea Southern Power, Korean Western Power, and Korea South-East Power. On February 22nd, HMM also signed a 15-year coal delivery contract, worth an estimated KRW 120 billion, […]