Hyundai Merchant Shipping: Becoming A First Class Ocean Shipping Carrier By 2020

- Apr 04, 2018-

HMM plans to become one of the “super aircraft carriers” of the container industry by 2020, operating a fleet of more than 1 million TEUs.


C.K. Yoo served as chief executive officer at the HMM annual meeting on Friday and his term of office was extended to 2021. He said that the employees will be "unity" and make HMM one of the top shipping companies in the world. welding overlay


The company expects to be equipped with “green, large-scale smart container ships” in the near future. Yoo said that HMM will “have extremely high cost competitiveness to enhance its sales capabilities”.


Earlier this week, Lawrence Burns, senior vice president of trade and services for modern US-based shipping agencies, pointed out that the container shippers went bankrupt. The wave of acquisitions and mergers has caused the industry to now be controlled by the top seven operators. The fleet size exceeds 1 million TEUs.


"There are still many shipping companies, including Hyundai Merchant Shipping, which are expected to join ... and reach the threshold of 1 million TEU."b16.9 elbow


He pointed out that the Korean government is now the largest shareholder of the company. "On the drafting table, we currently plan to achieve 1 million TEUs by 2020."


In a speech on Wednesday, Burns published his comments on the Long Beach port peak season forecast report.

The shipping companies with a fleet size of more than 1 million TEUs include Maersk, Mediterranean Shipping, France CMA, COSCO Shipping/Oriental Overseas, Hapag-Lloyd, Evergreen, and from the beginning of April 1, the three Japanese shipping companies - The Japan Ocean Shipping Association, the merchants Mitsui and Kawasaki Steamboat merged with the ONE Ocean Network Express.


In 2016, Hanjin, another major Korean shipping operator, went bankrupt. As a result, HMM’s cargo volume soared by 30% last year to more than 4 million TEUs, while revenues rose by 20%. pipe fittings

The company said that it plans to expand its service coverage, increase its cost competitiveness, and prepare for environmental regulations by introducing ultra-large container vessels, with a view to becoming the world's leading shipping carrier.