HMM, the eighth largest container shipping company in the world, made a profit of 2.6 billion dollars last year. This was an increase of almost 300%.
According to the figures, turnover rose by 39% to 8 billion dollars. The South Korean shipping company, a former partner of Hapag-Lloyd and now a member of the “Premier Alliance” with ONE and Yang Ming, was able to benefit from cargo growth and high freight rates in container traffic.
As the majority state-owned company announced, the profit margin was a whopping 30%. According to the carrier, it was able to increase its business volume by expanding its fleet.
Among other things, HMM commissioned twelve newbuildings with a capacity of 13,000 TEU each and deployed them on the transpacific routes.
HMM was only able to increase its transport volume slightly over the course of the year. A good 3.82 million TEU corresponds to an increase of only 1% compared to the previous year’s 3.78 million TEU. However, freight rates rose by 65% year-on-year to an average of 1,606 $/TEU.
Other liner shipping companies, including Maersk and Hapag-Lloyd, had previously presented similarly strong figures for 2024.
