[Click eStock] "HMM Expected to Post Strong Performance in First Half of This Year"

Yonhap News

NH Investment & Securities evaluated on the 9th that HMM is expected to post strong earnings in the first half of this year. However, they did not provide an investment opinion or target price.

Researcher Jeong Yeonseung of NH Investment & Securities stated, "The possibility of a strike at US East Coast ports, preemptive cargo transportation before the imposition of US import tariffs, the favorable US economy, and changes in alliances are intertwined, leading to strong freight rates," adding, "Supply-side factors are acting favorably."

As of January 3, 2025, the Shanghai Containerized Freight Index (SCFI) stands at 2505 points, which is 129.1% higher compared to the previous year. Freight rates continue to remain higher than expected.

Short-term factors are also pushing freight rates upward. A strike at US East Coast ports is imminent on the 15th. Researcher Jeong explained, "There is a clear difference of opinion between labor and management regarding the installation of automation equipment within the ports," and added, "If the strike begins and lasts for an extended period, container freight rates could rise further due to surcharges."

Researcher Jeong forecasted, "The annual operating profit estimate for 2025 is 1.7 trillion KRW, and with the continued strength in freight rates in the first quarter, it is expected to exceed market consensus."