Korea's shipping giants stuck in interest slump

Hanjin Shipping and Hyundai Merchant Marine are weighed down by massive interest burdens, several years of deficits, and with zero prospects of becoming profitable within the next three years, says Drewry.

BY OLE ANDERSEN

Neither Hanjin Shipping nor Hyundai Merchant Marine (HMM), South Korea's two major shipping conglomerates, have any prospects of turning a profit anytime soon. Their financial states are far too weak, according to a new analysis by Drewry Equity Research.

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Korea's shipping giants stuck in interest slump

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Front page now

Maritime & Merchant notes fierce competition in loans for shipping

14 arrested at demonstration in front of Maersk headquarters

Norwegian car carriers bag multi-year contracts

IMO's fossil fuel ban in the Arctic faces criticism

Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Less than one percent of the container fleet is currently idle

Congestion in Asian ports is now as bad as during Covid

Analysis: Capesizes have become too expensive despite strong market

UK Chamber of Shipping calls for more trade-friendly policies

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

Jobs