{"id":4309,"date":"2020-01-14T20:41:48","date_gmt":"2020-01-14T17:41:48","guid":{"rendered":"https:\/\/www.al-sindbad.net\/?p=4309"},"modified":"2020-01-14T20:41:55","modified_gmt":"2020-01-14T17:41:55","slug":"hmms-24000-teu-mega-ships-to-start-delivery-in-april","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/hmms-24000-teu-mega-ships-to-start-delivery-in-april\/4309\/","title":{"rendered":"HMM\u2019s 24,000 TEU Mega Ships to Start Delivery in April"},"content":{"rendered":"
\n

Korean shipping company Hyundai Merchant Marine (HMM) is set to join the elite club of megaship owners in a few months.<\/strong><\/p>\n

Namely, HMM is scheduled to start taking delivery of its twelve 24,000 TEU boxship newbuilds, the largest containerships in the world, in April, a company spokesperson confirmed to World Maritime News, hinting that the delivery schedule may be subject to change.<\/p>\n

The ships are undergoing final touches at the Korean shipyards Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) and are scheduled to be deployed in the Far East-North Europe trade.<\/p>\n

The sequential delivery of the new containerships coincides with the company\u2019s entry into a new containership alliance \u2013 THE Alliance; comprising Hapag-Lloyd, Ocean Network Express, and Yang Ming.<\/p>\n

According to HMM\u2019s spokesperson, the vessel\u2019s deployment plan for the year 2020 is still being finalized<\/span>\u00a0among THE Alliance members and will be unveiled once completed.<\/span><\/p>\n

\u00a0It is believed that the deployment of the giant ships will take place from Busan Newport International Terminal, the Port of Busan, which is the largest port in South Korea.<\/span><\/p>\n

The company is expected to add around 34 ships to THE Alliance\u2019s network in 2020, according to Alphaliner\u2019s estimates, adding up to 519,000 TEU to the network.<\/p>\n

The switch to a new alliance comes as Hyundai Merchant Marine exits\u00a0the three-year cooperation deal<\/a>\u00a0it had with the 2M carriers, Maersk Line and MSC since March 2017.<\/p>\n

Apart from the newbuildings that the South Korean major would receive in 2020, another eight 15,000 TEU newbuildings are set to join the company\u2019s fleet in 2021. The latter are expected to be deployed on the Asia \u2013 US East Coast route from the second quarter of 2021.<\/p>\n

Furthermore HMM\u2019s fleet will be strengthened in April 2020 by redeliveries of nine 10,000 \u2013 13,000 TEU ships currently (sub-)chartered out to Maersk and MSC.<\/p>\n

Business performance and plans ahead<\/h3>\n

Over the past year, HMM was investing strenuous efforts to cut its loss by turning to cost-cutting efforts and business transformation aided by improved freight rates.<\/p>\n

The shipping major managed to reduce its operating loss from KRW 123.1 billion (USD 105 million) in the third quarter of 2018 to KRW 46.6 billion (USD 39.8 million) in the same quarter last year.<\/p>\n

\u201cLast year, we laid a solid foundation to improve mid-to-long term profitability by joining THE Alliance, acquiring five new VLCCs, and securing operation rights of the Hyundai Pusan New Port terminal,\u201d<\/em>\u00a0Jae Hoon Bae, President & CEO of HMM, said in his New Year message.<\/p>\n

\u201cWe also have prepared a new leap forward through efforts to improve our profit structure, including the establishment of the SWAT (Strategic Work Activity TF), Logistics Service Strategy TF, and hiring of overseas sales specialists for back-haul business.\u201d<\/em><\/p>\n

\u201cThis year appears to be another year of considerable uncertainty. Geopolitical instability and an oversupplied market situation have intensified and are expected to persist, which might contribute to obstructing a positive outlook.<\/em><\/p>\n

\u201cFrom the US-China trade dispute to Brexit, uncertainties in the global trade environment have directly affected the world trade volume. The growth rate of shipping capacity is expected to increase as well.<\/em><\/p>\n

\u201cIt is unpredictable whether the business environment approaching us will be a tailwind or headwind, nor can we control it as we wish, but let us all make a fresh resolution to reach our desired \u201cdestination.\u201d<\/em><\/p>\n

The company has defined its\u00a0goals for the future<\/a>\u00a0and it aims to reach 1 million TEUs in capacity, over USD 10 billion in annual revenue by 2022.<\/p>\n

\u201cThis goal will be realized by accomplishing our vision of \u2018No.1 in customer satisfaction, No.1 in productivity, and No.1 in employee satisfaction\u2019. (\u2026)<\/em><\/p>\n

\u201cIn particular, with the delivery of the mega container ships and new cooperation with THE Alliance, the year 2020 will be a turning point for HMM to set a new milestone.\u201d<\/em><\/p>\n

World Maritime News Staff<\/p>\n<\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Korean shipping company Hyundai Merchant Marine (HMM) is set to join the elite club of megaship owners in a few months. Namely, HMM is scheduled to start taking delivery of its twelve 24,000 TEU boxship newbuilds, the largest containerships in the world, in April, a company spokesperson confirmed to World Maritime News, hinting that the …<\/p>\n","protected":false},"author":1,"featured_media":4310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64,20],"tags":[256,168,1003],"class_list":["post-4309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","category-news","tag-hmm","tag-hyundai","tag-mega-ships"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/4309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=4309"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/4309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/4310"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=4309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=4309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=4309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}