South Korean container line HMM predicts weak months ahead due to the off-peak season, although U.S. port strikes may cause supply uncertainty.
Container division fourth quarter market outlook is weak, HMM said, due to the off-peak season, although U.S. port strikes may cause supply uncertainty.
“Starting in February 2025, the ‘Premier Alliance + MSC’ partnership will optimize our transport network and boost revenue,” reads the company’s release.
As far as the bulk division, the company says that despite the winter peak, demand uncertainty and economic risks remain.
Meanwhile, HMM reported revenue for the third quarter KRW 3,552bn, with a net profit of KRW 1,739bn and an operating profit of KRW 1,461bn.
Between Q1 to Q3, revenue stood at KRW 8,545bn, with a net profit of 2,884bn, and an operating profit of KRW 2,513bn.
The Q3 operating margin is 41.1%, as the most advanced level among global carriers, according to HMM.
Furthermore, the Shanghai Containerized Freight Index (SCFI) increased from 986 points in Q3 2023 to 3,082 points in Q3 2024, HMM said, more than tripling over the year.
The company credited its profit growth and enhanced competitiveness to new service routes and a greater emphasis on profit-driven sales.
