HMM reports 23% increase in revenue

Hyundai Merchant Marine (HMM) reported a 23% rise in revenue for the first quarter of 2025, hitting KRW 2.85 billion ($2.04 million). Compared to KRW 485 billion ($347 million) during the same period previous year, net profit increased by 52% to KRW 740 billion ($530 million). Operating profit also experienced a large gain, climbing 51 per cent to KRW 614 billion ($440 million) from KRW 407 billion ($291 million) year-on-year (YoY).

The Shanghai Containerized Freight Index (SCFI) dropped from 2,010 points in Q1 2024 to an average of 1,762 points in Q1 2025. By the conclusion of the quarter, it had dropped to about 1,300 points. Through smart fleet expansion, the introduction of new services, and improved sales efforts, HMM achieved strong profit growth in Q1 2025 despite the declining trend in freight prices and difficulties posed by US tariff regulations. Consequently, the operating margin increased from 17.5% in the same quarter of the previous year to 21.5%. According to an HMM official, “continuing US tariff negotiations, vessel oversupply, and geopolitical instability — particularly the uncertainty surrounding the resumption of Red Sea transit — are likely to drive volatile market conditions to persist.”