HMM (company)

HMM Company Limited
Native name
에이치엠엠 주식회사
FormerlyAsia Merchant Marine
Hyundai Merchant Marine
Company typePublic
KRX: 011200
IndustryContainer shipping
FoundedMarch 25, 1976; 48 years ago (1976-03-25)
FateAcquired by Harim Group
Headquarters
Seoul and Busan
,
South Korea
Area served
Worldwide
Key people
Kyung-bae Kim (CEO)[1]
Websitewww.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.

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

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]

History

Hyundai Together at Hamburg
HMM Gdansk of the HMM Algeciras-class container ships
HMM Dublin

Hyundai Merchant Marine

1970s

  • Company established as Asia Merchant Marine on March 25, with a capital of 200 million.
  • Conventional liner service opened between the Far East and the Middle East.
  • Tramper liner service established between Asia and the Middle East.
  • Container service introduced between the Far East and the Middle East.

1980s

  • PCC (Pure Car Carrier) service inaugurated on the Far East/Europe, Korea/Australia and Korea/India routes.
  • Purchased Hyundai No.1, first car carrier in Korea.
  • Integrated Halla Marine Transportation, Shinhan Marine Transportation, and Donghae Merchant Marine as shipping agents, and Sunil Merchant Marine as subsidiary shipper.
  • Launched on Korea/Australia, Canada route.
  • Full container service opened between the Far East and the Western Us.
  • Constructed and purchased the world's largest ore & coal carrier Hyundai Giant.
  • Merged with Donghae Merchant Marine and Shinhan Merchant Marine.

1990s

  • Seven of the world's largest and fastest container ships (5,551 TEU) purchased.
  • Designated as the first LNG operation shipping company in Korea.
  • Founded joint company Korea-Soviet Shipping with Chunkyung Shipping.
  • Joint operation with SEA-LAND initiated on Asia Europe Express route.
  • Acquired exclusive use of container terminals in Busan and Kwangyang.
  • HMM became the first shipping company worldwide to acquire ISM Code and ISO 9002 certification at the same time.
  • President Park Se-yong awarded the trophy for excellence in business on Marine Transport Day.
  • Leased private terminal in Kaohsiung, Taiwan.
  • Founded inland depot in Hong Kong.
  • Introduced the first international video-conferencing system in shipping industry (Seoul-LA).
  • Signed lease agreement with the Port of Tacoma President Park Se-yong awarded a Gold Tower Medal for his contribution to the shipping industry in Korea.
  • The New World Alliance" service begins together with APL and MOL.
  • Started Woodchip Carrier Service.
  • Established "Hyundai Fleet Management System" which covers information such as weather conditions, vessel locations and current changes.
  • Employed 4 female crew members.
  • Acquired two cruise ships, Hyundai Kumgang and Hyundai Pongnae.
  • Opened Hyundai Busan container terminal, the largest public container terminal in Korea.

2000s

  • Proclaimed the new management vision for the 21st century, 'HMM21'.
  • President and CEO, Choong-Shik Kim was awarded Gold Tower industrial medal in the 5th Ocean Day.
  • Built a 'Cyber Customer Service Center' in the HMM internet homepage.
  • Sold the Car Carrier division that became EUKOR.
  • Appointed Noh Jeong-ik as the new president and CEO.
  • Set up a sisterhood relationship with Beophwan-dong, Jejudo
  • Named Kim Seong-man as the new President (1.4)
  • Launched new 8,600 TEU containership Hyundai Brave (1.10)
  • Appointed Kim Seong-man as president and CEO
  • Began a slot exchange with Hanjin Shipping on the Asia-East Coast of U.S. route

2010s

  • Established a joint venture 'Netruck Franz' with Hyundai Logiem and SK Energy
  • Named Kim Seong-Man as Vice Chairman and Lee Suk-Hui as president and CEO
  • Joined world's largest shipping alliance, G6
  • Established a ship management company ‘Hyundai Ocean Service Co., Ltd.
  • Ordered and launched Hyundai Pride
  • Participated in “Pusan New Port Container Terminal Phase 2-4 Project”
  • Subsidiary G-Marine Service Co., Ltd.,[7] operator of the Roll-on/Roll-off car carrier Golden Ray was instructed to revise its safety management system to verify and audit stability calculations before leaving port, and crew adherence to the watertight door closure entry on departure, after the Golden Ray capsized in the Port of Brunswick, Georgia (U.S. state) in calm weather because incorrect calculations led to an unstable ship leaving port on September 8, 2019. [8]

2010s

HMM Co., Ltd.

2020s

  • On 9 March, Hyundai Merchant Marine board decide to rebrand the company as HMM Co., Ltd.[9]
  • On 29 April, HMM held the naming ceremony for the newly constructed 23,964 TEU-class container ship HMM Algeciras, the world's largest container ship at the time of her launch.[10]

Fleet

Container ship classes of HMM
Ship class Built Capacity (TEU) Ships in class Notes
Hyundai Together-class 2012 13,082 5 Long-term charter from Danao Ship Leasing Corporation
Hyundai Dream-class 2014 13,154 5
Hyundai Earth-class 2016 10,077 6 Long-term charter from Zodiac Maritime
HMM Algeciras-class 2020 23,964–23,820 12
HMM Nuri-class 2021–onwards 16,010 8
2023–onwards 13,000 12 To be built by Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries[11]

See also

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.

External links

Wikimedia Commons has media related to Hyundai Merchant Marine.
  • Official website
  • Business data for HMM:
    • Bloomberg
    • Google
    • Reuters
    • Yahoo!
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