News / An improved first quarter for HMM this year, but rising costs still the challenge

Hyundai Dream

South Korean carrier Hyundai Merchant Marine today reported an 18% year-on-year increase in first-quarter revenues on the back of an 11% increase in volumes,  but recorded a loss.

Although HMM posted quarterly revenues of KRW1.31bn (US$1.1bn), after carrying 1,087,373 teu, compared with the 981,230 teu it carried in Q1 18, it posted a first-quarter loss of KRW105.7bn (US$88m).

But this compares with a KRW170.1bn loss in the same period last year.

The carrier said the increased revenues and volumes had been offset by ...