South Korean shipping major Hyundai Merchant Marine (HMM) is now undergoing a rebranding process which will change the company’s official name to its acronym, HMM.
The move is to better reflect the company’s ownership after the company completed a debt-to-equity swap with a number of banks last year, resulting in Hyundai Group no longer being the major shareholder of the company.
“HMM plans to gradually change its official name to HMM in order to rebrand its corporate image and to leap forward as one of the top global carriers,” a spokesperson told Splash.
HMM is now planning a major fleet expansion, having selected three domestic yards for the construction of a total of 20 mega containerships in June.
Founded in 1976 as Asia Merchant Marine, Korea’s flagship carrier was renamed Hyundai Merchant Marine in 1982.