News / The Hanjin effect: improved first-quarter may be the turning point for HMM

Hyundai Merchant Marine (HMM) has calmed the waters that led it to the brink of bankruptcy with first-quarter results showing a reduction in operating losses and an upturn in volumes handled.

The heir-apparent to Hanjin as South Korea’s de facto flag-carrier, HMM reduced its operating loss to $117m in the three months to March, compared with $144m last year.

Volumes were up 37%, year on year, to 958,000 teu, with spikes of 41.4% and 62.4% on shipments to the Americas and Asia.

HMM chief executive ...