HMM (company)
Native name | 에이치엠엠 주식회사 |
---|---|
Formerly | Asia Merchant Marine Hyundai Merchant Marine |
Type | Public |
KRX: 011200 | |
Industry | Container shipping |
Founded | March 25, 1976 |
Headquarters | , |
Area served | Worldwide |
Key people | Bae Jae-hoon (CEO) |
Website | www.hmm21.com |
HMM Co., Ltd. (Korean: 에이치엠엠 주식회사; RR: Eichi Em Em Jusik Hoesa), formerly known as Hyundai Merchant Marine, is a South Korean container transportation and shipping company. HMM moves the largest portion of South Korea's exports,[1] becoming the number one Korean national container carrier, especially since Hanjin Shipping was declared bankrupt and ordered to be liquidated.[2] As of 2020, HMM has built and launched the world's two largest container ships in terms of TEU capacity, the HMM Algeciras with a maximum TEU capacity of 23,964, and the HMM Copenhagen with a maximum capacity of 23,820 TEU.[3]
History[]
Hyundai Merchant Marine[]
1970s
- Company established as Asia Merchant Marine on March 25, with a capital of 200 million.
- Conventional liner service opened between the Far East and the Middle East.
- Tramper liner service established between Asia and the Middle East.
- Container service introduced between the Far East and the Middle East.
1980s
- PCC (Pure Car Carrier) service inaugurated on the Far East/Europe, Korea/Australia and Korea/India routes.
- Purchased Hyundai No.1, first car carrier in Korea.
- Integrated Halla Marine Transportation, Shinhan Marine Transportation, and Donghae Merchant Marine as shipping agents, and Sunil Merchant Marine as subsidiary shipper.
- Launched on Korea/Australia, Canada route.
- Full container service opened between the Far East and the Western Us.
- Constructed and purchased the world's largest ore & coal carrier .
- Merged with Donghae Merchant Marine and Shinhan Merchant Marine.
1990s
- Seven of the world's largest and fastest container ships (5,551 TEU) purchased.
- Designated as the first LNG operation shipping company in Korea.
- Founded joint company Korea-Soviet Shipping with Chunkyung Shipping.
- Joint operation with SEA-LAND initiated on Asia Europe Express route.
- Acquired exclusive use of container terminals in Busan and Kwangyang.
- HMM became the first shipping company worldwide to acquire ISM Code and ISO 9002 certification at the same time.
- President Park Se-yong awarded the trophy for excellence in business on Marine Transport Day.
- Leased private terminal in Kaohsiung, Taiwan.
- Founded inland depot in Hong Kong.
- Introduced the first international video-conferencing system in shipping industry (Seoul-LA).
- Signed lease agreement with the Port of Tacoma President Park Se-yong awarded a Gold Tower Medal for his contribution to the shipping industry in Korea.
- The New World Alliance" service begins together with APL and MOL.
- Started Woodchip Carrier Service.
- Established "Hyundai Fleet Management System" which covers information such as weather conditions, vessel locations and current changes.
- Employed 4 female crew members.
- Acquired two cruise ships, Hyundai Kumgang and Hyundai Pongnae.
- Opened Hyundai Busan container terminal, the largest public container terminal in Korea.
2000s
- Proclaimed the new management vision for the 21st century, 'HMM21'.
- President and CEO, Choong-Shik Kim was awarded Gold Tower industrial medal in the 5th Ocean Day.
- Built a 'Cyber Customer Service Center' in the HMM internet homepage.
- Sold the Car Carrier division that became EUKOR.
- Appointed Noh Jeong-ik as the new President and CEO.
- Set up a sisterhood relationship with Beophwan-dong, Jejudo
- Named Kim Seong-man as the new President (1.4)
- Launched new 8,600 TEU containership Hyundai Brave (1.10)
- Appointed Kim Seong-man as President and CEO
- Began a slot exchange with Hanjin Shipping on the Asia-East Coast of U.S. route
2010s
- Established a joint venture 'Netruck Franz' with Hyundai Logiem and SK Energy
- Named Kim Seong-Man as Vice Chairman and Lee Suk-Hui as President and CEO
- Joined world's largest shipping alliance, G6
- Established a ship management company ‘Hyundai Ocean Service Co., Ltd.
- Ordered and launched Hyundai Pride
- Participated in “Pusan New Port Container Terminal Phase 2-4 Project”
2010s
- Put the first ships of the HMM Algeciras-class container ships with 24,000 TEU into service
HMM Co., Ltd.[]
On 9 March 2020, Hyundai Merchant Marine board decide to rebrand the company as HMM Co., Ltd.[4]
On 29 April 2020, HMM held the naming ceremony for the newly constructed 23,964 TEU-class container ship HMM Algeciras, the world’s largest container ship at the time of her launch.[5]
Management[]
HMM has formed a global business network with four international headquarters, 27 subsidiaries, 76 branches, five overseas offices and 10 liaison offices.
Commercial[]
HMM transports nationally strategic materials such as crude oil, iron ore/coal and diverse special products as well as import/export goods. Earnings are eight trillion Korean won per year.[citation needed]
THE Alliance[]
Along with Hapag-Lloyd, Ocean Network Express, and Yang Ming Marine Transport Corporation, HMM is a member of THE Alliance. THE Alliance is intended to provide 34 services, directly calling at 81 different ports on a monthly basis.[6]
Fleet[]
Ship class | Built | Capacity (TEU) | Ships in class | Notes |
---|---|---|---|---|
Hyundai Together-class | 2012 | 13,082 | 5 | Long-term charter from Danao Ship Leasing Corporation |
Hyundai Dream-class | 2014 | 13,154 | 5 | |
Hyundai Earth-class | 2016 | 10,077 | 6 | Long-term charter from Zodiac Maritime |
HMM Algeciras-class | 2020 | 23,964–23,820 | 12 | |
HMM Nuri-class | 2021–onwards | 16,010 | 8 | |
2023–onwards | 13,000 | 12 | To be built by Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries[7] |
See also[]
References[]
- ^ Paris, Costas (12 May 2016). "Global Ship Operators Set to Strike Vessel-Sharing Deal". The Wall Street Journal. Retrieved 12 May 2016.
- ^ "Hanjin bankruptcy brings chaos but no capacity cut". Financial Times.
- ^ "Current HMM Vessel Fleet". HMM.
- ^ "Hyundai Merchant Marine to rebrand as HMM Co., Ltd". Maritime Gateway - South Asia’s Premier Shipping and Logistics News Portal. Retrieved 2021-04-05.
- ^ "World's Largest Containership HMM Algeciras Launched". MarineLink. 2020-04-24. Retrieved 2021-05-03.
- ^ "THE Alliance". Joc.com. Retrieved 3 January 2019.
- ^ "HMM to agree with South Korea's Big Three yards for a dozen new Panamax vessels". Container News. 2021-06-22. Retrieved 2021-06-28.
External links[]
- Shipping companies of South Korea
- Container shipping companies
- Companies based in Seoul
- Companies listed on the Korea Exchange
- Multinational companies headquartered in South Korea
- South Korean brands
- Hyundai Group