News / Korea's HMM and SM Line brave choppy water in Q3, but are making headway

© Vladimir Serebryanskiy

Hyundai Merchant Marine (HMM) and SM Line remained in the red in Q3 as they continued their quest to rejuvenate the South Korean liner industry after the Hanjin collapse.

Nevertheless, HMM’s third-quarter operating loss of KRW28.3bn (US$26m), which included its terminal operation, represented a significant recovery from the same period of 2016 when the restructured carrier posted a loss of KRW212.27bn ($195m).

Revenue leaped by 20% on the same period of last year to KRW1.3 trillion ($1.2bn), and liftings grew 41% to 1.04m teu.

Following its exclusion ...