HMM (company)

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HMM
Company typeShipping
KRX: 011200
IndustryContainer shipping
Founded1976; 48 years ago (1976)
HeadquartersSeoul, South Korea
Area served
World-wide
Websitewww.hmm21.com

HMM (Hangul: 에이치엠엠) is the world's 9th largest container line in terms of vessel capacity. HMM moves the largest portion of South Korea's exports,[1] becoming the number one Korean national containers carrier, especially since Hanjin Shipping was declared bankrupt and ordered to be liquidated.[2] As of 2020, HMM has built and launched the worlds two largest container ships in terms of TEU capacity, the HMM Algeciras with a maximum TEU capacity of 23,964, and the HMM Oslo with a maximum capacity of 23,820 TEU[3].

Management

HMM has formed a global business network with four international headquarters, 27 subsidiaries, 76 branches, five overseas offices and 10 liaison offices. It is highly regarded as one of the world's top integrated-logistics companies with its targeted market prospects, efficient organization, top personnel, and advanced internet systems.[citation needed]

Commercial

HMM transports nationally strategic materials such as crude oil, iron ore/coal and diverse special products as well as import/export goods. Earnings are eight trillion Korean won per year.[citation needed]

THE Alliance

Along with Hapag Lloyd, Yang Ming Marine Transport Corporation and Ocean Network Express, HMM is a member of THE Alliance.[4]
THE Alliance is intended to provide 34 services, directly calling at 81 different ports on a monthly basis.

History

1970s

  • Company established as Asia Merchant Marine on March 25, with a capital of 200 million.
  • Conventional liner service opened between the Far East and the Middle East.
  • Tramper liner service established between Asia and the Middle East.
  • Container service introduced between the Far East and the Middle East.
Hyundai Together at Hamburg
File:History 2001.gif
Launched new 8,600 TEU containership Hyundai Brave.
File:History 1996.gif
Seven of the world's largest and fastest container ships (5,551 TEU) purchased.

1980s

  • PCC (Pure Car Carrier) service inaugurated on the Far East/Europe, Korea/Australia and Korea/India routes.
  • Purchased Hyundai No.1, first car carrier in Korea.
  • Integrated Halla Marine Transportation, Shinhan Marine Transportation, and Donghae Merchant Marine as shipping agents, and Sunil Merchant Marine as subsidiary shipper.
  • Launched on Korea/Australia, Canada route.
  • Full container service opened between the Far East and the Western Us.
  • Constructed and purchased the world's largest ore & coal carrier Hyundai Giant.
  • Merged with Donghae Merchant Marine and Shinhan Merchant Marine.

1990s

  • Seven of the world's largest and fastest container ships (5,551 TEU) purchased.
  • Designated as the first LNG operation shipping company in Korea.
  • Founded joint company Korea-Soviet Shipping with Chunkyung Shipping.
  • Joint operation with SEA-LAND initiated on Asia Europe Express route.
  • Acquired exclusive use of container terminals in Busan and Kwangyang.
  • HMM became the first shipping company worldwide to acquire ISM Code and ISO 9002 certification at the same time.
  • President Park, Se-yong awarded the trophy for excellence in business on Marine Transport Day.
  • Leased private terminal in Kaohsiung, Taiwan.
  • Founded inland depot in Hong Kong.
  • Introduced the first international video-conferencing system in shipping industry (Seoul-LA).
  • Signed lease agreement with the Port of Tacoma President Park Se-yong awarded a Gold Tower Medal for his contribution to the shipping industry in Korea.
  • The New World Alliance" service begins together with APL and MOL.
  • Started Woodchip Carrier Service.
  • Established "Hyundai Fleet Management System" which covers information such as weather conditions, vessel locations and current changes.
  • Employed 4 female crew members.
  • Acquired two cruise ships, Hyundai Kumgang and Hyundai Pongnae.
  • Opened Hyundai Busan container terminal, the largest public container terminal in Korea.

2000s

  • Proclaimed the new management vision for the 21st century, 'HMM21'.
  • President and CEO, Choong-Shik Kim was awarded Gold Tower industrial medal in the 5th Ocean Day.
  • Built a 'Cyber Customer Service Center' in the HMM internet homepage.
  • Sold the Car Carrier division that became EUKOR.
  • Mr. Noh Jeong-ik was appointed as the new President and CEO.
  • Set up a sisterhood relationship with Beophwan-dong, Jejudo
  • Named Mr. Kim, Seong-man as the new President (1.4)
  • Launched new 8,600 TEU containership Hyundai Brave (1.10)
  • Appointed Mr. Kim, Seong-man as President and CEO
  • Began a slot exchange with Hanjin Shipping on the Asia-East Coast of U.S. route

2010s

  • Established a joint venture 'Netruck Franz' with Hyundai Logiem and SK Energy
  • Named Kim Seong-Man as Vice Chairman and Lee Suk-Hui as President and CEO
  • Joined world's largest shipping alliance, G6
  • Established a ship management company ‘Hyundai Ocean Service Co., Ltd.
  • Ordered and launched Hyundai Pride
  • Participated in “Pusan New Port Container Terminal Phase 2-4 Project”

2020s

  • Built and launched the two largest container ships in terms of TEU capacity, the HMM Algeciras (23,964) and the HMM Oslo (23,820)[5].

References

  1. ^ Paris, Costas (12 May 2016). "Global Ship Operators Set to Strike Vessel-Sharing Deal". The Wall Street Journal. Retrieved 12 May 2016.
  2. ^ "Hanjin bankruptcy brings chaos but no capacity cut". Financial Times.
  3. ^ "Current HMM Vessel Fleet". HMM.{{cite web}}: CS1 maint: url-status (link)
  4. ^ "THE Alliance". Joc.com. Retrieved 3 January 2019.
  5. ^ "Current HMM Vessel Fleet". HMM.{{cite web}}: CS1 maint: url-status (link)

External links

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