HMM, the South Korean container operator has revealed their ambition for 2019 targeting a 7% global market share for the east-west trade lanes upon taking delivery of their newly ordered fleet of 20 ULCV’s (Ultra-large Container Vessels).
Early this week they released a statement saying they see a 7% market share in east-west trades by 2021 as achievable for HMM as they believe apprehension that HMM might have difficulties filling the mega containerships is unwarranted,”
Hyundai recovering customers trust
HMM declared they have seen worldwide growth of their volumes with approximately 50% around the globe. Hyundai has seen their vessels capacity utilisation being drastically improved to 78% during the first half of 2018 and 80% in the second half of 2018. This as a result of the HMM sales power recovering customers trust over the past two years. Presently Hyundai Merchant Marine is operating 94 branch offices around the glove since they started operating in container trade in the mid-80ies.
HMM Capital growth
Last October HMM realised the completion of their capital increase of KRW 1 trillion through bond issuance.
Hyundai will further search for autonomous financing in the market if required. As a result HMM will further anticipate a capital restoration and capital acceleration in the second half of 2020.