News / HMM reports 500% rise in operating profit, and eyes fleet and route expansion

South Korean container line HMM is yet another major carrier to enjoy a bumper 2024, today reporting a 500% increase in operating profits, to $2.42bn.

Revenue for the year was $8.05bn, 39% up on 2023, delivering an operating margin of 30%, “demonstrating [HMM’s] competitiveness in the global shipping market”, it said, adding that its debt ratio was maintained over the year at 21%.

“The strong performance was driven by strategic fleet expansion and network optimisation – deploying 12 13,000 teu newbuilds, enhancing ...