Hyundai Merchant Marine stakes claim to Middle East mastery

Hyundai Merchant Marine stakes claim to Middle East mastery

South Korean containerline Hyundai Merchant Marine (HMM) has announced today that it expects to have the largest market share in the Middle East market by beefing up its Asia-Middle East trade lanes.

Previously, HMM had only been operated a single route to the Middle East, called Korea-Middle East Service (KMS).

Since Iran sanctions were lifted in January 2016, the cargo volume is expected to increase, HMM noted in a release. It has decided to reorganise its KMS service as well as introducing a new China-Middle East Express (CME) effective July 7.

The new services will boost HMM’s market share in Asia-Middle East market from 8% to 13%, the line claimed.

KME, a restructured service of KMS, will be operated by six container ships: three 8,600 teu vessels andthree 6,800 teu ones.

HMM will also deploy six 4,600 teu ships to the newly added CME service.

HMM, which has been going through a massive restructuring this year, is in negotiations with Maersk and MSC to join the 2M container alliance.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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