HMM

Foreign-based investment will boost a Washington state port’s container capacity by nearly 40%.

CargoX has launched its solution tailored to meet the electronic bill of lading standards of Korean container carrier HMM and the Digital Container Shipping Association.

Ocean carrier HMM attributed much of its first-half net-profit nosedive of 90% to overcapacity in the container shipping industry.

The 14,000-TEU One Stork on Tuesday became the largest container ship to call Jacksonville, Florida.

HMM acknowledged that “freight rates in most key trade lanes have been under downward pressure since H1 2022.”

“Container demand is expected to be under downward pressure due to considerable uncertainties,” HMM said in its third-quarter earnings release.

South Korean ocean carrier HMM expects “downward pressure” on demand growth in the second half of 2022.

Ocean carrier HMM announced Thursday it will invest $7.5 billion over the next five years on ships, terminals and logistics facilities.

Current CEO Jae Hoon Bae was not mentioned in the announcement that Kyung-bae Kim will succeed him.

Digitization can alleviate supply chain glitches, but it depends on systems that talk the same language.

The South Korean ocean carrier says the newbuilds will provide the “capacity and flexibility” to serve its shippers.

Hapag-Lloyd now will add 12 23,500-TEU container ships to its fleet beginning in 2023.

South Korean shipping line HMM says it was victim of a cyberattack that caused outages to its e-mail systems.

After an 85% revenue jump, the South Korean carrier turns its attention to meeting its carbon neutrality target.

The South Korean container carrier expects the Suez Canal backlog to be cleared by the time the HMM Nuri arrives in mid-April.

AgTC’s Peter Friedmann said Hapag-Lloyd’s Rolf Habben Jansen failed to mention in a press conference that the container shipping lines are enjoying record profits “while pushing their customers into real financial trouble, some towards bankruptcy.”

Korean container carrier HMM expects equipment and capacity shortages to continue at least through the end of the first quarter.

Hapag-Lloyd credits higher freight rates and lower bunker prices as “the main drivers of these positive business developments.”

South Korean carrier turns quarterly $103 million loss last year into $20 million profit this year.

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