HMM, South Korea's largest liner company, made a net profit of $840 million in the first half of the year
Recently, HMM, the largest liner company in South Korea, announced its results for the first half and second quarter of 2024.
In the first half of the year, HMM achieved operating income of 4.993 billion won (about 3.67 billion US dollars), an increase of 18.6%. Net profit was 1,146 billion won ($840 million), up 88 percent from a year earlier.
As for the performance, HMM said: "The increase in freight rates and the profit-oriented business strategy have led to the growth of revenue and profit."
Looking ahead, HMM believes that the significant uncertainty created by geopolitical risks and global trade tensions could bring uncertainty to the global shipping market. HMM will build the ideal transport service network based on route and regional supply and demand changes, including investment in new and used vessels, opening new routes to Mexico, etc.
In addition, the company plans to prepare itself for the rapidly changing market situation by introducing very large vessels, increasing digital capabilities, reducing costs and continuing to pursue a profit-oriented operating strategy.
In the first half of the year, HMM achieved operating income of 4.993 billion won (about 3.67 billion US dollars), an increase of 18.6%. Net profit was 1,146 billion won ($840 million), up 88 percent from a year earlier.
As for the performance, HMM said: "The increase in freight rates and the profit-oriented business strategy have led to the growth of revenue and profit."
Looking ahead, HMM believes that the significant uncertainty created by geopolitical risks and global trade tensions could bring uncertainty to the global shipping market. HMM will build the ideal transport service network based on route and regional supply and demand changes, including investment in new and used vessels, opening new routes to Mexico, etc.
In addition, the company plans to prepare itself for the rapidly changing market situation by introducing very large vessels, increasing digital capabilities, reducing costs and continuing to pursue a profit-oriented operating strategy.
