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Maritime Research

Container Shipping Special Report: HMM - what lies ahead?

Spotlight Report

May 2018

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DMFR Special Report HMM

Special Financial Report - Hyundai Merchant Marine (HMM) - What lies ahead?

In a quest to establish itself as a global operator and serve as the Korean government’s new flagship operator, HMM has embarked on an ambitious expansion plan by announcing its intention to order 12 eco-vessels of 20,000 teu and eight of 14,000 teu. This significant commitment raises many questions, which DMFR has sought to address in this latest Special Report. The report includes in-depth analysis of the issues faced and assesses HMM’s future prospects given the current and anticipated market context.

 

Key questions addressed by the report include:

  • What prompted the plan?
  • What is the role of the South Korean government?
  • What does the cost structure look like?
  • What are HMM’s key challenges?
  • How do the company’s financials measure up?


Report contents

Company overview

  • Brief background

How it all began?

  • Hanjin’s debacle revisited and its impact on HMM
  • HMM’s 2M alliance

What is driving the new orders?

  • Fiscal stimulus
  • Sulphur regulations
  • The shipyard factor
  • HMM’s ambition
  • Scale-up or perish

How is HMM planning to achieve its 2021 target to control 5% of the market?

  • The role of the state
  • Strategic expansion

Key challenges

  • Running new services profitable
  • Managing the chartered-in fleet
  • Debt reduction

Financial analysis

  • Financial metrics
  • Operational metrics
  • Government support
  • Capex status
  • HMM Bond analysis
  • Z-score

Outlook

 


More Information

Fast facts...

  • Company overview
  • How it all began?
  • What is driving the new orders?
  • How is HMM planning to achieve its targets?
  • Key challenges
  • Financial analysis
  • Outlook

News

Car carriers on the up despite rising uncertainty

Car carriers on the up despite rising uncertainty
Car carrier shipping is expected to continue its recovery from the trough of 2016, supported by improving utilisation, according to the Drewry’s Finished Vehicle Shipping Annual Review and Forecast report.

Drewry launches ‘Cost Impact Calculator’ to help shippers prepare for and better understand fuel costs post-IMO 2020

Responding to the needs of Beneficial Cargo Owners (BCOs) ahead of the IMO 2020 global emission regulation, Drewry announces the addition of a new BAF formula and fuel cost benchmarking service to its range of ocean freight procurement support services.

Liner balance postponed

A gloomier world economic outlook and rising trade tensions have forced Drewry to downgrade its forecast for container demand over the next five years, according to the latest Container Forecaster.

Drewry survey: IMO 2020 low-sulphur rule exposes widespread concern about lack of fuel cost transparency

Our recent survey exposes considerable unease among global shippers/beneficial cargo owners and freight forwarders ahead of the IMO’s 2020 global emissions regulations, due to come into force on 1 Jan 2020.

Events

Outlook for finished vehicle shipping Briefing

Join us at 0900 GMT or 1600 GMT on Tues, 20 November 2018 for an online briefing on the outlook for finished vehicle shipping. The webinar will provide Drewry’s analysis and projections for finished vehicle trade flows, car carrier fleet development, freight rate and asset value developments, as well as industry profitability. The session will be hosted by Tom Ossieur, Head of Car Carrier Research and Martin Dixon, Director, Head of Research Products at Drewry.

Container Ports webinar briefing: What container vessel cascading is heading for ports?

Join us at 0900 or 1600 GMT on Tues, 11 Dec 2018 to find out more on our latest research covering the container ports and terminals market. The session will be hosted by Neil Davidson, Senior Analyst in Drewry’s Ports and Terminals practice and Martin Dixon, Director - Head of Research Products at Drewry. Both executives will be available to take questions following a short 20 minute presentation.