HMM (company)

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HMM Company Limited
Native name
에이치엠엠 주식회사
FormerlyAsia Merchant Marine
Hyundai Merchant Marine
Company type Public
KRX: 011200
Industry Container shipping
FoundedMarch 25, 1976;48 years ago (1976-03-25)
FateAcquired by Harim Group
Headquarters
Seoul and Busan
,
Area served
Worldwide
Key people
Kyung-bae Kim (CEO) [1]
Website www.hmm21.com

HMM Company Limited (Korean : 에이치엠엠 주식회사; RR : Eichi Em Em Jusik Hoesa), formerly known as Hyundai Merchant Marine, is a South Korean container transportation and shipping company.

Contents

Overview

HMM moves the largest portion of South Korea's exports, [2] becoming the number one Korean national container carrier, especially since Hanjin Shipping was declared bankrupt and ordered to be liquidated. [3]

The company's office network is composed of four international headquarters, 27 subsidiaries, 76 branches, five overseas offices and 10 liaison offices.

On the domestic market, HMM transports strategic materials such as crude oil, iron ore/coal and diverse special products as well as import/export goods. Earnings are eight trillion Korean won per year.[ citation needed ]

As of 2020, HMM has built and launched the world's two largest container ships in terms of TEU capacity, the HMM Algeciras with a maximum TEU capacity of 23,964, and the HMM Copenhagen with a maximum capacity of 23,820 TEU. [4]

In December 2023, HMM was acquired by Harim Group for $4.9 billion (S$6.55 billion). [5]

THE Alliance - Premier Alliance

Along with Hapag-Lloyd, Ocean Network Express, and Yang Ming Marine Transport Corporation, HMM is a member of THE Alliance. THE Alliance is intended to provide 34 services, directly calling at 81 different ports on a monthly basis. [6] From February 2025, THE Alliance shall be replaced by Premier Alliance, composed by the same members, excluding Hapag-Lloyd.

History

Hyundai Together at Hamburg Hyundai Together.jpg
Hyundai Together at Hamburg
HMM Gdansk of the HMM Algeciras-class container ships HMM Gdansk Hamburg 13-11-2020 (3).jpg
HMM Gdansk of the HMM Algeciras-class container ships
HMM Dublin HMM Dublin (ship, 2020) IMO 9863314, Port of Rotterdam.JPG
HMM Dublin

Hyundai Merchant Marine

1970s

1980s

1990s

2000s

2010s

2010s

HMM Co., Ltd.

2020s

Fleet

Container ship classes of HMM
Ship classBuiltCapacity (TEU)Ships in classNotes
Hyundai Together-class 201213,0825Long-term charter from Danao Ship Leasing Corporation
Hyundai Dream-class 201413,1545
Hyundai Earth-class 201610,0776Long-term charter from Zodiac Maritime
HMM Algeciras-class 202023,964–23,82012
HMM Nuri-class 2021–onwards16,0108
HMM Garnet-class 2023–onwards13,00012To be built by Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering [11]

See also

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References

  1. "HMM nominates former Hyundai Glovis chief as new CEO". 14 March 2022.
  2. Paris, Costas (12 May 2016). "Global Ship Operators Set to Strike Vessel-Sharing Deal". The Wall Street Journal . Retrieved 12 May 2016.
  3. "Hanjin bankruptcy brings chaos but no capacity cut". Financial Times. September 2016.
  4. "Current HMM Vessel Fleet". HMM.
  5. "Harim Group to acquire HMM for $4.9 billion". Korea JoongAng Daily . 2023-12-18. Retrieved 2023-12-19.
  6. "THE Alliance". Joc.com. Retrieved 3 January 2019.
  7. "G-Marine Service". Hyundai Motor Group.
  8. Brick Immortar. "Roll-On Roll-Over: The Loss of Car Carrier Golden Ray" . Retrieved 24 December 2023.
  9. "Hyundai Merchant Marine to rebrand as HMM Co., Ltd". Maritime Gateway - South Asia’s Premier Shipping and Logistics News Portal. 12 March 2020. Retrieved 2021-04-05.
  10. "World's Largest Containership HMM Algeciras Launched". MarineLink. 2020-04-24. Retrieved 2021-05-03.
  11. "HMM to agree with South Korea's Big Three yards for a dozen new Panamax vessels". Container News. 2021-06-22. Retrieved 2021-06-28.