The ambition to control five percent of the global fleet just four years from now is an illusion, says Drewry in a new analysis of container carrier Hyundai Merchant Marine. This would also be disastrous to the sector, notes the firm.
South Korea's Hyundai Merchant Marine is, according to Alphaliner, gambling with its own, new service on Asia-Europe before the delivery of mega-vessels in 2020, when the carrier's arrangement with Maersk and MSC expires.
There will be plenty of challenges to address for Maersk Line's South Korean partner HMM this year and over the coming years. In a speech to employees, CEO C.K. Yoo emphasized how the carrier will achieve its goal to double its fleet capacity in 2022.
South Korea's Hyundai Merchant Marine will – like the biggest carriers in the sector – order ultra-large vessels, the only question is when. A South Korean billion-dollar fund plays a key role, sources tell ShippingWatch.
Rapidly-expanding South Korean carrier SM Line, built on vessels acquired from the bankrupt Hanjin Shipping estate, wants to cooperate with countrymen Hyundai Merchant Marine on the Pacific. Alphaliner reports that the letter is less eager to collaborate.
The South Korean container carrier is reaping from its strategic partnership with Maersk Line and MSC in the 2M alliance. HMM has announced a freight record for the Busan port in July, reports South Korean media.