[Featured Stock] HMM Rises 9% on News of Increased US Vessel Operations

[Asia Economy Reporter Ji Yeon-jin] HMM is showing a sharp rise as news spreads that it will increase the number of vessels operating to the United States starting next month to alleviate the shortage of export ships to the U.S.

On the morning of the 8th, HMM traded on the KOSPI market at 46,600 KRW, up more than 9% during the session.

Earlier, the government held the second meeting of the 'Export-Import Logistics Emergency Response Task Force (TF),' formed to fully address logistics difficulties faced by export companies, and announced additional export support measures.

To support export logistics to the U.S., HMM will increase the frequency of temporary vessels operating to the U.S. from twice a month to four times a month starting in July, aiming to resolve rising freight rates and the shortage of shipping space.

For the U.S. West Coast route, the dedicated shipping capacity for small and medium-sized shippers will be significantly expanded. Starting in July, HMM will allocate a separate 1,000 TEU of priority shipping space on temporary vessels deployed on the U.S. West Coast route exclusively for small and medium-sized shippers.