South Korean container shipping major HMM reported a significant improvement in its financial performance for the third quarter of 2026, with operating profit surging 370% year-on-year to KRW 1.40 trillion, compared with KRW 297 billion in the corresponding quarter of 2025.
The company recorded consolidated revenue of KRW 4.13 trillion during the quarter, marking a 52% increase from KRW 2.71 trillion a year earlier. Net profit also rose sharply by 405% to KRW 1.54 trillion, compared with KRW 304 billion in the third quarter of 2025.
HMM achieved an operating profit margin of approximately 34%, reflecting improved operational efficiency, cost optimisation and disciplined fleet management. Compared with the second quarter of 2026, revenue increased 21%, while operating profit and net profit rose 294% and 273%, respectively.
For the first nine months of 2026, HMM reported consolidated revenue of KRW 10.25 trillion, up 25% from KRW 8.18 trillion in the same period last year. Operating profit increased 76% to KRW 2.02 trillion, while net profit climbed 52% to KRW 2.30 trillion.
Container shipping remained the largest contributor to the Group’s profitability. The division generated operating profit of KRW 1.64 trillion during the nine-month period, representing a 55.3% increase year-on-year. HMM attributed the performance to its efforts to expand shipping networks, strengthen its hub-and-spoke strategy and secure higher-yield cargo.
These measures helped sustain profitability despite continued global uncertainties, including geopolitical risks in the Middle East and natural disasters affecting major ports.
HMM’s bulk shipping business also recorded substantial growth, with operating profit increasing 418.5% year-on-year to KRW 378 billion during the first nine months of 2026. The division’s contribution to the Group’s total operating profit increased from 6.4% to 18.8%, highlighting the growing importance of business diversification.
The company attributed the improvement in bulk shipping to its long-term contracts, which provided a relatively stable revenue base amid market volatility.
As part of its diversification strategy, HMM is expanding its fleet beyond conventional dry bulk carriers and tankers into pure car and truck carriers (PCTCs), gas carriers and multipurpose vessels (MPVs).
The latest results underline HMM’s strengthening financial position, supported by improved performance in container shipping, growing contributions from bulk operations and continued efforts to diversify its shipping portfolio.