News / Buoyant HMM in the black for the first time in five years, but liftings fall

ID 186489200 © Eyewave | Dreamstime.com

South Korean ocean carrier HMM has posted its first annual profit for five years, despite a decrease in its liftings. 

Revenue last year surged by 16.3%, compared with 2019, to $5.43bn, earned from a 9.2% decline in its container volume to 3.89m teu. 

Net profit came in at $105m, in comparison with a loss of $500m the year before. 

HMM moved back into the black in the fourth quarter, recording a net profit $137m, after 15 consecutive loss-making quarters and racking up some $3.5bn ...