Hyundai Merchant Marine

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Hyundai Merchant Marine
Shipping
Traded asKRX: 011200
IndustryContainer shipping
Founded1976
HeadquartersSeoul, South Korea
Area served
World-wide
Websitewww.hmm21.com


Hyundai Merchant Marine (Hangul: 현대상선) is the world's 14th 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, mainly since Hanjin service termination [2].

Management[edit]

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[edit]

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]

Hyundai container.jpeg

History Timeline[edit]

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
Launched new 8,600 TEU containership 'Hyundai Brave'.
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 ship-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.
  • Participated in “Pusan New Port Container Terminal Phase 2-4 Project”

References[edit]

  1. ^ Paris, Costas (12 May 2016). "Global Ship Operators Set to Strike Vessel-Sharing Deal". The Wall Street Journal. Retrieved 12 May 2016.
  2. ^ https://www.ft.com/content/205af87a-6fba-11e6-a0c9-1365ce54b926

External links[edit]