April 1st, 20200Today marks the first day for HMM in THE Alliance. The Korean flagship joins Hapag-Lloyd, Ocean Network Express (ONE) and Yang Ming in the grouping that operates combined services on the main east-west trades. Having skirted with bankruptcy four years ago, HMM was shunned from becoming a full member of any of the new three main...
March 25th, 20200South Korean flagship HMM has deposited $25m into THE Alliance’s contingency fund ahead of its April 1 joining of the liner grouping. The cash reserve was first set up three years ago in the wake of the collapse of another Korean liner, Hanjin Shipping, and the then partners of the defunct CKYHE alliance had to handle the supply...
April 23rd, 20190Jae-hoon Bae, the newly installed president and CEO at HMM, South Korea’s flagship carrier, has wasted little time hopping on a plane to Europe to discuss alliance matters with partners Maersk and Mediterranean Shipping Company (MSC). HMM’s vessel sharing agreement on the main east-west trades with Maersk and MSC comes up for renewal...
March 27th, 20190South Korean flagship carrier HMM has appointed a new leader from outside the organisation. Jae-hoon Bae, who previously worked with local supply chain firm Pantos Logistics, steps in to become president and CEO at HMM taking over from CK Yoo. Yoo, who had originally been slated to keep the post through to 2021, resigned last...
February 21st, 20194CK Yoo is resigning as president and CEO at HMM, South Korea’s flagship carrier. In an internal note sent to employees and seen by Splash today, Yoo thanked his colleagues for the “reconstruction of HMM from the disarray for the last two and half years”. Yoo will take his leave at the next shareholders meeting at the end of...
February 13th, 20190South Korean flagship carrier HMM has revealed a net loss of KRW808bn ($720m) for the full financial year, marking it out as one of the biggest losers among the world’s top 10 liners. Analysts at box watchers Alphaliner described HMM’s results as “dismal” in their latest weekly report. HMM, which went through a major...
September 28th, 20181Today South Korea’s flagship line HMM signed formal contracts for its 20 mega containerships with three the nation’s top three shipyards - Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI). DSME and SHI will build seven and five 23,000 teu containerships,...
August 15th, 20180Hyundai Merchant Marine (HMM), South Korea’s flagship carrier, continues to post the worst results of all the major carriers around the world. HMM’s Q2 results work out more seven times worse than peers such as Evergreen or Hapag-Lloyd. HMM’s operating margin for its container shipping business declined further to -16.4% in...
August 10th, 20180South 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...
June 20th, 20180January 1, 2020 marks a date creating headaches for shipowners around the world as they gear up for the introduction of IMO’s global 0.5% sulphur cap. However, for one Korean carrier it is another date, three months later, that is causing consternation. Hyundai Merchant Marine (HMM), South Korea’s flagship carrier, appears to be...
