{"id":2102,"date":"2017-05-15T22:21:03","date_gmt":"2017-05-15T15:21:03","guid":{"rendered":"http:\/\/www.vtrlogistics.com.vn\/?p=2102"},"modified":"2017-05-15T22:21:03","modified_gmt":"2017-05-15T15:21:03","slug":"hmm-plunges-further-into-red","status":"publish","type":"post","link":"https:\/\/www.vtrlogistics.com.vn\/?p=2102&lang=en","title":{"rendered":"HMM PLUNGES FURTHER INTO RED"},"content":{"rendered":"

South Korean shipping company Hyundai Merchant Marine (HMM) posted a net loss of KRW 734.6 billion (USD 653 million) in the first quarter of this year sinking further from a loss of KRW 276 billion reported in 2016.<\/strong><\/span><\/p>\n

\"\"<\/p>\n

The poor results were ascribed to lower charter rates that plagued the market during the quarter and higher fuel costs. However, better market conditions are expected for the remainder of the year.<\/span><\/p>\n

HMM\u2019s operating loss reached KRW 131.2 billion, narrowed from the previous year\u2019s KRW 163 billion. Furthermore, the shipping company\u2019s sales were also up by 7 percent standing at KRW 1.302 trillion.<\/span><\/p>\n

During the quarter, HMM\u2019s containerships handled 958,000 twenty-foot equivalent (TEU) containers, a 37 percent increase year-on-year, with markets in North America and Asia recording the biggest spikes, 41.4 percent and 62.4 percent respectively.<\/span><\/p>\n

The results come following HMM\u2019s recent strategic investments into new terminal operations and newbuilding tonnage.<\/span><\/p>\n

Namely, just last week HMM reached an agreement to buy a 100 percent stake in Spain\u2019s Total Terminal International Algeciras (TTIA), earmarking around USD 104.1 million for the stake in the terminal.<\/span><\/p>\n

The company also decided to avail of the low newbuilding prices last month and ordered\u00a0five 300,000 dwt very large crude carriers (VLCCs) from the compatriot Daewoo Shipbuilding & Marine Engineering (DSME) with an option of five more vessels.<\/span><\/p>\n

World Maritime News Staff<\/span><\/p>\n

Source:\u00a0http:\/\/worldmaritimenews.com\/<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

South Korean shipping company Hyundai Merchant Marine (HMM) posted a net loss of KRW 734.6 billion (USD 653 million) in the first quarter of this year sinking further from a loss of KRW 276 billion reported in 2016. The poor results were ascribed to lower charter rates that plagued the market during the quarter and …<\/p>\n","protected":false},"author":2,"featured_media":1811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[95,75],"tags":[178,1274,1276],"acf":[],"_links":{"self":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts\/2102"}],"collection":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2102"}],"version-history":[{"count":2,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts\/2102\/revisions"}],"predecessor-version":[{"id":2105,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts\/2102\/revisions\/2105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/media\/1811"}],"wp:attachment":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}