- HMM celebrated the 1st anniversary of its launching company under a new mission on April 1.
- HMM’s initiative was promoted to provide a focal point to various newly recruited members and to create a new shipping company culture.
- The change of company name is not just remembered as a shipping company, it opens up the possibility to further expand the business area have.
- In addition, HMM aims to become a global top class, and based on their accumulated potential.
A recent news article published in the Marine Insight reveals that HMM aims to reach 1 million TEU fleet capacity by 2022.
Joining new shipping alliance
HMM celebrates the launch of the new mission and joining the new shipping alliance ‘THE Alliance’, world’s largest 24,000 TEU container ship owner.
Key achievements
- Introduction of 12 ships,
- A turnaround through performance improvement,
- Expansion of fleet capacity, and
- Leap to the 8th place in the global shipping company ranking.
HMM achieved an operating profit of 980 billion won in 2020, surpassing its successful turnaround in 10 years, and achieving the highest performance ever recorded.
The Alliance was started on April 1 2020
HMM started its cooperation with THE Alliance, one of the world’s three major shipping alliances, on April 1 of last year.
HMM is a full member of THE Alliance with Hapag-Lloyd (Germany), ONE (Japan) and Yang Ming (Taiwan).
With the start of full-fledged activities, trust in the global shipping market is restored, cost structure improved, service routes diversified, etc.
It laid the foundation for stably providing quality services.
Target of 1 million TEU of the fleet by 2022
In April 2020, HMM’s first 24,000 TEU class container ship HMM Algeciras was delivered. The naming ceremony was attended by President Moon Jae-in in person, and Mrs Kim Jeong-suk took the role of the godmother.
Despite the aftermath of COVID-19, the 12 largest container ships in the world with a 24,000 TEU class recorded full 32 voyages in a row. Proving the power of the super-large ship.
In March 2020, HMM’s fleet amount was 430,000 TEU, and as of April 20201, it was 720,000 TEU.
The ranking of global shipping companies rose to 8th place. HMM began to receive delivery of eight 16,000 TEU-class container ships, the second super-sized series from March this year.
This ship is the largest ship capable of crossing the Panama Canal, and can also cross the Suez Canal, making it the European, Mediterranean, Middle Eastern. thus, it can be used in all major routes around the world.
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Source: Marine Insight
