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HMM aims to boost profitability and eyes 5pc global market share by 2021

Time：2016-12-16 Browse：108 Author：RISINGSUN

SOUTH Korea`s Hyundai Merchant Marine (HMM) is aiming for a five per cent share of the global container shipping market by 2021, the line has revealed after finally concluding a strategic collaboration with members of the 2M alliance.

An HMM official said the shipping line is looking to boost its profitability levels and hopefully attain full membership in the 2M alliance after the three-year agreement, which covers a combination of slot exchanges and slot purchases among the trio, and Maersk and MSC taking over some charters and operations of vessels currently chartered to HMM, according to Lloyd`s Loading List.

HMM aims to focus on the Asia to US trade route, while acquiring more terminals, the official said, so as to hit a 5 per cent operating margin and garner a 5 per cent share of the global shipping market by 2021. But it will not engage in overly active fleet expansion.