- The revenue was KRW 11,700 billion, with a net profit of KRW 3,781 billion and an operating profit of KRW 3,513 billion in 2024.
- The operating margin in 2024 is 30%, demonstrating its competitiveness in the global shipping market.
- HMM debt ratio remained at 21%, maintaining a solid financial position.
Hyundai Merchant Marine (HMM) has reported 2024 financial performance, with a revenue of KRW 11,700 billion ($8.05 million).
Solid financial performance
The South Korean shipping line had a net profit of KRW 3,781 billion ($2.6 million) and an operating profit of KRW 3,513 billion ($2.4 million) in 2024.
The operating margin in 2024 is 30 per cent, while its debt ratio remained at 21 per cent, maintaining a solid financial position.
The Shanghai Containerized Freight Index (SCFI) averaged 2,506 points in 2024, a 149 per cent increase from the 2023 average of 1,005 points. (The highest annual level was recorded at 3,734 points on 5 July 2024.)
According to HMM, the strong performance was fuelled by smart fleet growth and network optimisation— deploying 12 newbuilds, improving transpacific services, and establishing the new FLX route — while also profiting from the Red Sea crisis and increased US-CN trade demand.
Despite solid financial performance, risks remain owing to US tariffs, supply chain disruptions, and overcapacity, which may drive up freight prices.
HMM is growing its low-carbon fleet with nine 9,000 TEU methanol-powered vessels and more LNG-powered vessels. It is also expanding its global network by adding services in the transatlantic, India, and South America.
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Source: HMM
