HYUNDAI MERCHANT MARINE CO.,LTD.
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Hyundai Merchant Marine Co.,Ltd. (HMM), with registered business office in Seoul, Korea, is an integrated logistics company engaged in providing transportation services. The company operates more than 110 state-of-the-art vessels capable of transporting strategic materials such as crude oil, LNG, iron ore/ coal and diverse special products. The company was established in March 1976 as Asia Merchant Marine with a capital of 200 million Korean won.
HMM is one of the top five Trans-Pacific carriers and one of the top 10 carriers in the global shipping industry with a varied sized fleet for Trans-Pacific, Asia-Europe, Trans-Atlantic and Inter-Asia trade. The company has a global service network of more than 40 sea routes and more than 100 ports of call, thereby enabling a close collaboration with world’s major shipping companies.
HMM seeks to become the world’s leading integrated logistics company by continuously investing in vessel fleet, acquiring container terminals in strategic locations around the world, and developing premiere customer-oriented IT system. HMM strives to add new shipping routes and tonnage, invest resources to improve electronic services, and further streamline existing programs and services.
HMM’s network comprises 14 overseas subsidiaries and approximately 70 offices in North America, South America, Europe, Middle East, Australia, and Asia.
Firm’s year-on-year sales sharply rose, due to favorable tune in performances in overall biz including benefits from booming tanker ships and bulker freight increase. Firm’s year-on-year operating profit rose 180%, thanks to container sector being turned into surplus, and high profitability deriving from strong freight in bulkers and tankers. Though external fund procurement increases thru large scale ship introduction and equity investment in affiliates, firm’s financial burden fell, in view of ample cash liquidity and creation ability for cash from operating abilities. Firm’s growth trend is forecast, in view of tanker freight increase deriving from stagnant tonnage, performance improvement in the container sector arising from elasticity system of price premium on oil price hike. High level of profitability is expected due to high earnings in non-container sector, transfer of oil price hike to freight, and thus surplus operation in all lines. Firm promotes market dominance consolidating strategy thru expansion of overseas operation strongholds and ship fleet.
Description and history
Established as Asia Merchant Marine with a capital of 200 million Korean won
An integrated logistics company engaged in providing transportation services
HAEYOUNG MARITIME SERVICES CO.,LTD.
Korea Exchange Bank
US SIC Code
JONGNO-GU, SEOUL 110-470
City province or state postal code
Country address: KOREA REPUBLIC OF
Website url: www.hmm21.com