HMM reduced deficit but remains strained by global unrest

South Korean liner major HMM grew its revenue significantly in the second quarter, though trade tensions, Middle East unrest and a looming Brexit continues to strain the company, which is still losing money. However, the switch from 2M to The Alliance is expected to bring gains.

Photo: PR / HMM

HMM reports a new deficit for the second quarter.

The South Korean shipping line was able to grow its revenue by almost 13 percent compared to the same period last year, but even though the deficit was reduced by close to 45 percent, the company still finished the second quarter with an operating loss of KRW 112.9 billion (USD 93.1 million).

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Alphaliner: HMM set to go private in 2022

The South Korean state is reportedly prepared to divest container line HMM after having rescued the company from bankruptcy in 2016. According to Alphaliner, South Korea's central administration has confirmed a plan to privatize the carrier in 2022.

Further reading

Related articles

Latest news

See all jobs