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Hyundai Merchant News

24 Aug 2023

Port of Los Angeles Pays Tribute to Shipping Lines That Reduced Emissions

Source: Port of Los Angeles

The Port of Los Angeles has recognized the achievements of more than two dozen shipping lines and carriers for participating in the Port’s Vessel Speed Reduction Program (VSRP), an air quality and annual incentive program for vessel operators who reduce their speed as they approach or depart the port.The voluntary program is one of many sustainability efforts currently underway at the Port to reduce emissions and decarbonize operations.Emission reductions are achieved under the…

26 Apr 2023

HMM Signs Biofuels MoU

[From left to right] S.H. LEE (Executive Vice President, GS Caltex); Park, Jinki (Senior Executive Vice
President, HMM)

Hyundai Merchant Marine (HMM) has signed a Memorandum of Understanding (MoU) with GS Caltex to secure marine biofuels.HMM plans to conduct the trial use of the fuels on its three 24,000 TEU container ships in the second half of this year. The biofuels comprise 30% biodiesel derived from used cooking oil and 70% high-sulfur fuel oil (HSFO).Biodiesel reduces greenhouse gas emissions by 80% compared to conventional fuels, notes HMM. Biofuels also have the merit of being compatible with current ship engines without technological modification.In 2021…

19 Apr 2023

HMM Plans Onboard Carbon Capture Field Test

© ShDrohnenFly / Adobe Stock

Hyundai Merchant Marine (HMM) has announced plans to conduct field tests of an onboard carbon capture system following a feasibility study of the technology for container ships.The project is being conducted with Samsung Heavy Industries (SHI) and PANASIA in the second half of this year.The feasibility study revealed that the system could be installed without changing the existing equipment of the ship and does not hinder the stability of vessel operation.The collected CO2 will be liquefied in a pressurized tank and used for manufacturing dry ice on land.Earlier this year…

12 Apr 2023

HMM Halves Carbon Emissions Over Last Decade

Source: HMM

Hyundai Merchant Marine (HMM) has reduced carbon emissions to less than half of 2010 levels.According to HMM, the CO2 emissions generated when transporting 1TEU of container for 1 kilometer decreased from 68.7g in 2010 to 29.05g in 2021, representing a reduction of 57.7% over the last decade.This has been achieved amid a more than two-fold increase in fleet capacity, from 337,407 TEU to 755,209 TEU, over the same period.HMM attributes its success to its efforts to constantly upgrade its fleet with energy-efficient mega-vessels.

27 Feb 2023

US Retailers' Ocean Shipping Price Woes Ending as New Delays Threaten

Collapsing ocean shipping rates are not all good news for U.S. retailers, who paid as much as $20,000 to move a container of goods during the worst pandemic disruptions, as they now are bracing for delays due to plummeting demand.Carriers like MSC and Maersk are trying to prop up prices by cancelling voyages and that could spark a new round of cargo delays as containers get bumped from one ship to the next, experts said ahead of a major U.S. ocean shipping conference in Long Beach…

14 Jul 2022

HMM to Invest $11.5 Billion Over Five Years for Expansion

© eyewave / Adobe Stock

HMM Co Ltd, South Korea's largest container shipping company by sales, said on Thursday it plans to invest 15 trillion won ($11.46 billion) over the next five years to sharply increase its capacity.HMM plans to expand its shipping capacity to 1.2 million 20-foot equivalent units (TEU) from the current 820,000 TEU by 2026 and increase the number of bulk carriers to 55 from 29.

24 Dec 2020

ONE to Charter World's Largest Containerships

© Elles Rijsdijk / Adobe Stock

Singapore-headquartered container carrier Ocean Network Express Pte. Ltd. (ONE) said it has signed a letter of intent (LoI) with Japan's Shoei Kisen Kaisha, Ltd. for the 15-year charter of six new ultra large containerships (ULCS). The vessels, with capacity greater than 24,000 TEU each, are said to be the world's largest.The newbuilds will be built by the consortium of compatriot shipyards Imabari Shipbuilding Co., Ltd. and Japan Marine United Corporation for planned delivery…

04 Jun 2020

World's Largest Containership Makes Its First Call in Europe

HMM Algeciras made its first European stop in the Port of Rotterdam this week. (Photo: Port of Rotterdam)

The world's largest containership HMM Algeciras made its first European port call this week, entering Rotterdam’s Amaliahaven Wednesday on its maiden voyage to transfer containers at the Rotterdam World Gateway (RWG) terminal.The most recent vessel to hold the world’s largest containership crown, HMM Algeciras at maximum capacity carries slightly more 20-foot containers than its predecessor MSC Gülsün: 23,964 TEU versus 23,756 TEU. During its maiden voyage, HMM Algeciras is carrying a total of 19…

04 Mar 2020

Hyundai Merchant Marine Deploys Robots for Hull Cleaning

Hyundai Merchant Marine (HMM) has deployed underwater robots to help clean the hull of its vessels."We plans to replace human laborers in a risky environment with underwater robots when it comes to hull cleaning work on its vessels. Underwater robots help to prevent industrial accidents and cut environmental pollution," HMM said in a statement.HMM has signed a cooperation agreement with TAS GLOBAL CO., LTD., a domestic manufacturer specializing in underwater robots.Hull fouling has long been a problem for shipowners, conspiring to reduce speeds and increase fuel consumption, and emissions.In step, shipping companies have made an effort…

24 Feb 2020

THE Alliance Updates MESN

THE Alliance, which includes Hapag-Lloyd, Hyundai Merchant Marine (HMM), Ocean Network Express (ONE), and Yang Ming, announced updated details of its 2020 service network, focusing on the Asia-Middle East trade-lane.THE Alliance will introduce three newly organized express loops from early April and the Middle East Service Network (MESN) will provide higher frequency, direct and expanded coverage, and the fastest connection from the respective regions.Hyundai Merchant Marine has become a full member of THE Alliance in January. With the backing from the South Korean government, the company has ordered 12 Korean-built 23,000 TEU Megamax-24 vessels…

05 Feb 2020

Japan Takes Shipbuilding Dispute to WTO

The Japanese government has filed a new petition with the World Trade Organization (WTO) against South Korea concerning alleged aid provided by the Korean government to the country’s shipbuilding industry.According to Yonhap, Japan has asked South Korea to discuss the issue which it says is affecting international competition, and if the talks fail, Japan will seek to establish a dispute settlement panel.In November 2018, Japan filed a complaint with the WTO, claiming that South Korea violated existing regulations by providing subsidies to its shipbuilders, resulting in damage to the Japanese industry.In December 2018, the two sides…

16 Jan 2020

THE Alliance Welcomes HMM

The members of THE Alliance, Hapag-Lloyd, Ocean Network Express, and Yang Ming have welcomed Hyundai Merchant Marine (HMM) as a new core member of THE Alliance.With the US Federal Maritime Commission (FMC) acceptance of HMM membership, THE Alliance offers an attractive upgraded product package and it will be launched around April 1st, 2020.Based on the existing comprehensive network of THE Alliance, the newly en-hanced product package will offer increasing frequency particularly from South East Asia, as well as new direct port coverage and improved transit times.Now that HMM joined The Alliance, its new offering for 2020 will consist of 33 services, 280 ships and a coverage of 78 ports globally.

13 Jan 2020

HMM to Launch Mega-Ships in April

South Korean logistics major Hyundai Merchant Marine (HMM) will introduce the largest container vessels of the world in April. These mega-ships will be deployed on the company’s Asia-Europe services.According to BusinessKorea HMM will put into operation a total of 12 24,000-TEU super large vessels, one per week, staring this April, the Busan New Port Terminal said on Jan. 12.The boxships are under construction at Samsung Heavy Industries (SHI) and Daewoo Shipbuilding & Marine Engineering (DSME).HMM will start its services as an official member of “The Alliance,” one of the three major shipping alliances in the world, on April 1, 2020, said the report.

18 Nov 2019

HMM Joins “Getting to Zero Coalition”

South Korean shipping giant Hyundai Merchant Marine (HMM) has joined the Getting to Zero Coalition, a new alliance that aims to accelerate international shipping’s decarbonization.Getting to Zero Coalition is a powerful alliance of nearly 100 organizations within various industrial sectors to achieve significant reduction of greenhouse gas (GHG) emission in the maritime industry.“Climate change is a defining issue of our time and the scale of the environmental regulation we are facing is unprecedented. In order to ensure sustainable growth on the pathway to decarbonisation, all players need substantive reaction to the technological solution of ZEV (Zero Emission Vessel) as well as the development of carbon neutral fuels.

27 Sep 2019

HMM, DSME Join Forces for Smart-ship Tech

South Korea’s container shipping giant Hyundai Merchant Marine (HMM) and compatriot shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) have joined forces on the research, development and innovation in the field of smart ship technologies.Under a Memorandum of Understanding, the parties would conduct research on real-time service system based on IoT (Internet of Things), design on-shore platforms for optimized fleet operation, develop automated warehousing systems for ship materials and development economic navigation solutions.HMM plans to promote the innovation of smart ship technologies underway of directly reflecting and testing operational data to its own container vessels.In fact, certain part of smart ship solution related to optimized ship operation has already been compl

05 Aug 2019

HMM Takes Top Spot in Schedule Reliability

South Korea's Hyundai Merchant Marine (HMM) toped highest on-time performance among 15 global carriers in June.According to the ‘Global Liner Performance Report – July 2019’, issued by SeaIntelligence, HMM ranked the most reliable carrier in June 2019 with a score of 91.8 percent - improved 8.2 percent points compared to last month.HMM’s performance was also 8.3 percent points higher than global average of 83.5 percent.

15 Jun 2019

HMM Rescues Crew of Norwegian Tanker

South Korean shipping firm Hyundai Merchant Marine Co said in a press statement that its cargo ship, Hyundai Dubai, rescued all 23 crew members of the Norwegian oil tanker Front Altair, one of the two vessels that caught fire on suspicious attacks in the Gulf of Oman.According to U.S. officials, the crew of the Norwegian-owned tanker Front Altair has been held by the Iranians for nearly 48 hours after they were first rescued by another merchant vessel following attacks on oil tankers in the Gulf of Oman early Thursday.Front Altair’ encountered an explosion accident in the Strait of Hormuz, officials explained.According to the ‘Hyundai Dubai’, the three rounds of explosion occurred at 06:40 a.m.

24 May 2019

Danaos Signs Sale-and-Leaseback Deal with EnTrust

The provider of seaborne transportation services, Danaos Corporation has concluded a $150m sale-and-leaseback deal for two of its biggest boxships with the alternative investment firm EnTrust Global.Watson Farley & Williams (WFW) has advised EnTrust Global’s (ETG) Blue Ocean Funds on the transaction of the two container vessels “HYUNDAI RESPECT” and “HYUNDAI HONOUR” acquired from and chartered back to two subsidiaries of Danaos, said a press release.This is the Blue Ocean Funds’ first sale and leaseback in the Greek shipping market, with the US$150m made available to Danaos, a NYSE-listed global shipping company maintaining a fleet of large size container vessels…

20 May 2019

HMM Unveils New Corporate Identity

South Korean shipbuilding major Hyundai Merchant Marine (HMM) has launched a new corporate identity (CI) in an effort to enhance its brand equity.According to the company, the CI reflects HMM’s “vision and ambition to take a leap forward to the bright future”."The new CI features a pride of Korea’s national flagship carrier as well as an intuitive grasp of shipping business. The blue HMM letter embodies the shape of the front of a large ship crossing the ocean, and the red line on top represents the rising sun on the horizon where the ship is sailing," said a press release from the company.HMM CEO Jae-hoon Bae said, "It is memorable and meaningful for HMM to introduce its new CI today…

14 May 2019

ZIM Joins DCSA

Israel cargo shipping company Zim Integrated Shipping Services (ZIM) announced that it has joined the Digital Shipping Association (DCSA) dedicated to digitization and standardization in the container shipping industry.ZIM CIO, EVP Eyal Ben-Amram, said: "We are excited to join DCSA and to contribute to the digital transformation. We firmly believe that digital innovation will shape the future of the shipping industry, and our multi-service approach embodies this belief. Standardization is the right way to improve the eco-system of all stakeholders".A month ago, DCSA was created by four founding members — A.P. Moller – Maersk, Hapag-Lloyd…

24 Apr 2019

HMM, FESCO Expand Cooperation

South Korean major Hyundai Merchant Marine (HMM) unveiled its plans to expand cooperation with Russian container line FESCO on their China Russia North Service (CRN).HMM has been jointly operating a China-Korea-Russia weekly service, under the name of ‘CRN’ with FESCO and CMA CGM.With the expansion of cooperation, the current CRN will be reorganized and two of new direct services connecting Korea and Russia, named 'KR2 (Korea Russia Service 2)' and 'KRS (Korea Russia Service)', will be introduced in the service network of HMM.HMM deploys one vessel (1,000 TEU) on the KR2 which directly connects Busan and Vostochny, while FESCO places one vessel (1,200 TEU) on the KRS, the direct service between Busan and Vladivostok.The commencement date of respective service is on May 11 for KR2 and on Ma

23 Apr 2019

HMM to Enhance Global On-site Management

The new head of South Korean flag carrier Hyundai Merchant Marine (HMM) Jae-hoon Bae is on a charm-offensive trip to Europe to cement the shipping line's relations with global majors.HMM said Bae, who became HMM's president and chief executive last month, will meet this week with executives at A.P. Moller-Maersk A/S and Mediterranean Shipping Co.First of all, Bae plans to visit the European headquarter of HMM, located in London, to encourage its employees and make sales strategies based on the character of each region after gathering the various opinions from the site.Furthermore, he will lead an effort to reinforce the trust of its valued customers through business meetings.Bae is scheduled to converse with Ki-tack Lim…

27 Mar 2019

Valmet to Supply Scrubber Systems to DSME

Finnish technology company Valmet Oyj will supply exhaust gas cleaning system (scrubber system) for seven new building container vessels, which will be built in South Korea by Daewoo Shipbuilding and Marine Engineering (DSME) for Korean Shipping company Hyundai Merchant Marine (HMM).The developer and supplier of technologies, automation systems and services  said in a press release that the building container vessels are the largest in the world, over 23,000 TEU (Twenty-Foot Equivalent Unit) each. The scrubber system deliveries will start in 2019.The scrubber system order was included in Valmet's fourth quarter 2018 orders received. The value of the order will not be disclosed.Valmet has a long track record in supplying scrubber systems to different vessels types.

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