HMM Co., Ltd. Overview
Pro stress-test →HMM Co., Ltd. (formerly Hyundai Merchant Marine) is a South Korean container transportation and shipping company. HMM moves the largest portion of South Korea's exports, becoming the number one Korean national container carrier, especially since Hanjin Shipping was declared bankrupt and ordered to be liquidated. The company operates a diversified fleet serving container, bulk, tanker, and specialized cargo segments with digital platform capabilities.
Strategic Profile
Pro stress-test →In 2024, HMM reported revenue of KRW 11,700 billion with a net profit of KRW 3,781 billion and operating profit of KRW 3,513 billion (up 500% year-on-year), with an operating margin of 30% demonstrating competitiveness in the global shipping market. Strong performance was driven by strategic fleet expansion—deploying twelve 13,000 TEU newbuilds and launching the new FLX route—while expanding its low-carbon fleet with methanol-powered and LNG-powered vessels.
Competitive Landscape
Pro stress-test →HMM controlled three percent of the global container fleet in 2023, ranking eighth in terms of container ship capacity and being overtaken by shipping giants such as MSC and Maersk, as well as by mid-tier companies such as Ocean Network Express (ONE) and Hapag-Lloyd. HMM remains the clear market leader in South Korea's domestic container shipping market.
Industry Context
HMM Co., Ltd. operates in Container shipping and freight transportation.
Key facts
Founded: 1976 · Headquarters: Seoul, South Korea · Employees: N/A · Revenue: KRW 11.7T (2024) · Market cap: N/A