HMM reports solid financial performance in 2024

Hyundai Merchant Marine (HMM) reports revenue of KRW 11,700 billion in 2024, with a net profit of KRW 3,781 billion and an operating profit of KRW 3,513 billion, up 500% year-on-year.

Operating margin was 30%, which the company says demonstrates its competitiveness in the global shipping market.

HMM says the strong performance was driven by strategic fleet expansion and network optimisation—deploying twelve 13,000 TEU newbuilds, enhancing transpacific services, and launching the new FLX route—while also benefiting from the Red Sea crisis and rising China-US trade demand.

HMM is now expanding its low-carbon fleet with nine 9,000 TEU methanol-powered and additional LNG-powered vessels. It is also strengthening its global network with new services in the transatlantic, India, and South America.