Hyundai Merchant Marine Increases Asia-US West Coast Volume by 77% YoY, Ranks 4th in Market Share in June 2017

By Finance

On June 25, 2017, Hyundai Merchant Marine (HMM) announced that its Asia-US west coast (USWC) volume in June 2017 increased 77% year-on-year.

Hyundai Merchant Marine Increases Asia-US West Coast Volume by 77% YoY, Ranks 4th in Market Share in June 2017
Caption: Container ship Hyundai Dream - Image courtesy of Buggi Porschien

According to PIERS Data, HMM’s Asia-USWC handling cargo rose year-on-year from 7,953 TEU/WK to 14,055 TEU/WK (77%↑) at the end of June 2017.

Moreover, HMM ranked 4th in terms of market share, up from 12th the previous year.

HMM’s Asia-all US route cargo handling also rose year-on-year from 11,626 TEU/WK to 17,291 TEU/WK (49%↑) in June 2017.

Furthermore, HMM’s USWC market share has grown to 7.4%, up 3.4%p from the same month last year. (2016.06: 4.0% → 2017.01: 7.4%), and all US route market share has also grown to 5.8%, up 2.0%p year-on-year. (2016.06: 3.8% → 2017.06: 5.8%),

While, HMM's cargo processing at Busan Port, the largest sea gateway in Korea, increased by 91 percent last month from a year ago. HMM’s handling volumes at Busan port jumped from 78,039 TEU/Month to 148,950 TEU/Month in June 2017, the second-largest volume after Maersk. The total includes 76,376 TEU/Month of imports and exports cargo, an increase of 83 percent on-year, and 72,574 TEU/Month of transshipment, up 100 percent.

HMM official commented that “HMM’s volume has dramatically increased, as it has regained customer trust through a successful restructuring and has expanded shipping networks through ‘2M+H strategic cooperation’ and ‘HMM+K2’ consortium. And that “We expect higher volumes in the 3rd quarter, since we’re heading into the peak season.”

Source: HMM