HMM increases Asia-US West Coast volume by 77% YoY, Ranks 4th in market share in June 2017

Posted by Daily Shipping Times on 27-07-2017        Tweet

SEOUL: Hyundai Merchant Marine announced on June 25 2017 that its Asia-US West Coast (USWC) volume in June 2017 increased 77% year-on-year.

According to PIERS Data, HMM’s Asia-USWC handling cargo rose year-on-year from 7,953 TEU/WK to 14,055 TEU/WK (77% up) at the end of June 2017.

Moreover, HMM ranked 4th in terms of market share, up from 12th the previous year.

HMM’s Asia-all US route cargo handling also rose year-on-year from 11,626 TEU/WK to 17,291 TEU/WK (49% up) in June 2017.

Furthermore, HMM’s USWC market share has grown to 7.4%, up 3.4% from the same month last year and all US route market share has also grown to 5.8%, up 2.0% year-on-year.

While, HMM's cargo processing at Busan Port, the largest sea gateway in Korea, increased by 91 percent last month from a year ago. HMM’s handling volumes at Busan port jumped from 78,039 TEU/Month to 148,950 TEU/Month in June 2017, the second-largest volume after Maersk. The total includes 76,376 TEU/Month of imports and exports cargo, an increase of 83 percent on-year, and 72,574 TEU/Month of transshipment, up 100 percent.

HMM official commented that “HMM’s volume has dramatically increased, as it has regained customer trust through a successful restructuring and has expanded shipping networks through ‘2M+H strategic cooperation’ and ‘HMM+K2’ consortium. And that “We expect higher volumes in the 3rd quarter, since we’re heading into the peak season.”