HMM Reports Q3 Operating Profit of 296.8 Billion Won, Down 79% Year-on-Year

Operating Margin at 11%
Among Top Global Shipping Companies

HMM announced on November 13 that its sales for the third quarter of this year reached 2.7064 trillion won, with an operating profit of 296.8 billion won.

This represents a 23% decrease in sales and a 79% decrease in operating profit compared to the same period last year.

HMM stated that its operating margin stood at 11%, ranking among the top global shipping companies.

In the third quarter of last year, advance cargo volumes increased due to concerns over U.S. protectionist tariffs. In contrast, in the third quarter of this year, cargo volumes plummeted as the United States, emphasizing protectionism, raised tariffs. In particular, freight rates on transpacific routes dropped sharply, with rates to the West Coast and East Coast falling by 69% and 63%, respectively.

The Shanghai Containerized Freight Index (SCFI) averaged 1,481 points in the third quarter of this year, down 52% from the same period last year.

HMM expects overall market conditions to weaken in the fourth quarter as the traditional year-end off-season approaches. The company also anticipates continued instability due to changes in U.S. tariff policies.

To respond, HMM plans to optimize operational efficiency by adjusting port calls and deployed vessels by route, and will actively attract high-profit special cargo such as refrigerated and oversized shipments. At the same time, the company aims to improve profitability by developing new business segments.

HMM headquarters located in Park One Tower, Yeouido. Photo by Jo Yongjun jun21@

This content was produced with the assistance of AI translation services.