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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

Container market disruption seems likely as uncertainty mounts

Container market disruption seems likely as uncertainty mounts
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Manning costs to rise below inflation on easing officer supply shortfall

Manning costs have risen moderately over the past 12 months, checked by easing officer supply shortage, and are forecast to rise at a similar pace over the next five years, according to Drewry’s latest Manning Annual Review and Forecast.

Proposed US auto tariffs would have a significant negative impact on key East-West trade routes

Key US ports, leading global container lines and specialist car carriers will all be adversely impacted should the proposed US auto tariffs be implemented in the second quarter of 2019, according to an impact analysis published by global shipping consultancy Drewry.

Satisfaction survey in container transport: Shippers dissatisfied with clarity of surcharges and transit times

The level of satisfaction concerning container carriers among exporters, importers, and freight forwarders falls marginally, according to the third annual shipper satisfaction survey of Drewry and the European Shippers’ Council (ESC).

Events

Cool Logistics Global 2019

Meet Martin Dixon to hear Drewry’s Outlook for Perishable Reefer Shipping

TPM Asia 2019

Drewry to discuss the container shipping outlook, changes, challenges, and opportunities for BCOs.

South Carolina International Trade Conference

Philip Damas presenting the container shipping outlook and challenges and opportunities for BCOs.