Hyundai Merchant Marine (HMM) has reported a 23 per cent increase in revenue for the first quarter of 2025, reaching KRW 2.85 billion ($2.04 million), according to its latest financial results.
Net profit rose by 52 per cent to KRW 740 billion ($530 million), compared to KRW 485 billion ($347 million) in the same period last year.
Operating profit also saw a significant increase, rising 51 per cent to KRW 614 billion ($440 million) from KRW 407 billion ($291 million) year-on-year (YoY).
The Shanghai Containerized Freight Index (SCFI) averaged 1,762 points in Q1 2025, down from 2,010 points in Q1 2024, and declined further to around 1,300 points by the end of the quarter.
Despite the downward trend in freight rates and challenges from US tariff policies, HMM achieved solid profit growth in Q1 2025 through strategic fleet expansion, the launch of new services, and enhanced sales efforts.
As a result, the operating margin improved to 21.5 per cent, up from 17.5 per cent in the same quarter last year.
A representative from HMM commented: “Volatile market conditions are likely to persist, driven by ongoing US tariff negotiations, vessel oversupply, and geopolitical instability — particularly the uncertainty surrounding the resumption of Red Sea transit.
“We also anticipate that declining cargo volumes from China to the US will disrupt the supply-demand balance and put additional downward pressure on freight rates.
“In response, we are enhancing operational flexibility by deploying nine 9,000 TEU methanol-powered container vessels, with phased delivery and deployment planned through the first half of 2026.”
Recently, Porto Itapoá joined a new shipping route connecting South America and Asia, established through a joint operation by Hyundai Merchant Marine (HMM) and Ocean Network Express (ONE).
