© Zandcee

Highest quarterly profit ever

Record revenues for HMM

by Port News Editorial Staff

The South Korean carrier Hyundai Merchant Marine closed its last three months with its highest quarterly profit ever. Revenues increased 130% compared to the same period in 2020 and 40% compared to the second quarter. Overall, their net income was $2 billion.

As a result, the company has been able to climb back up the slope into which it had slid down in the dramatic 2020, moving from the accumulated loss of $10 million recorded in the first nine months of the pandemic year to a net profit of $2.34 billion between January and September 2021.

According to the company, quarterly financial performance reached a record high in the third quarter of 2021, primarily due to higher freight rates and the efficiency of the fleet, which includes twelve 24,000-TEU containerships.

Translation by Giles Foster

Go to Top