HMM Records Total Revenue Of KRW 1,313.1 Billion For Q1 2020 

Total earnings in Q1 2020 reduced 0.2% (- KRW 2.8 billion) YoY to KRW 1,313.1 billion as well as running revenue enhanced 98.1% (+ KRW 103.7 billion) YoY to KRW– 2 billion.

Net revenue in Q1 2020 enhanced 63.2% (+ KRW 112.9 billion) YoY to KRW 65.6 billion.

Container dealing with quantities in Q1 2020 reduced 18.7% (- 0.2 million TEU) YoY to 0.89 million TEU as a result of the supply-side disturbances for 5 weeks, mostly in China.

Image Credits: hmm21.com

Despite adverse effects led by the spread of the COVID-19, HMM’s productivity has actually improved credited to cost-saving initiatives, ideal use of 5 VLCCs as well as protecting high-yield freights along with solid products prices in the Middle East as well as India profession lanes.

Outlook

The ripple effects of the COVID-19 pandemic still linger. Trade quantities are anticipated to be deteriorated as an outcome of demand-side effects in the United States as well as Europe in addition to proceeded lockdown worldwide. Rising problems over the United States-China profession stress connected to geopolitical dangers likewise can escalate the circumstance.

The vessel company lives in a fairly beneficial atmosphere offered reduced oil costs as well as proceeded solid need for drifting storage space.

Image Credits: hmm21.com

HMM will certainly concentrate on increasing productivity via protecting financially rewarding agreements, optimizing fleet procedure as well as broadening cost-saving strategies.

24,000 TEU-class container ships will certainly be stably run based upon the smooth teamwork with THE Alliance participants. And, HMM will certainly react flexibly to market variation according to rationalisation of solution items being executed by THE Alliance.

HMM aims to respond to unpredictabilities triggered by the COVID-19 pandemic in a live via a COVID-19 action war-room introduced as component of a danger administration approach.