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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

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Drewry Financial Research launches an in-depth assessment of the issues faced and HMM’s future prospects given the current and anticipated future market context.

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Events

ESPO 2018

Tim Power to present the outlook for ports and shipping.

Container Ports webinar briefing: Are terminals surviving the perfect storm?

Join us at 0900 or 1600 BST on Tues, 5 June 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.

Project Cargo Summit

Susan Oatway to discuss the heavy lift and MPV shipping markets.