News / HMM stays bullish as it sinks deeper into the red, and vows it can cut costs

HMM recorded a net loss of $215m in the second quarter, taking the South Korean ocean carrier’s deficit to a massive $371m at the half-year stage.

The restructured container line increased liftings by 17%, year on year, in Q2, to 1.15m teu, which it attributed to its “sales expansion efforts” including the launch of its standalone Asia-North Europe loop and larger tonnage on the Asia-South America tradelane.

HMM also improved its load factor across its network to 79%, up from 75% the year ...