Ocean Carriers

HMM’s Cargo Processing at Busan Port Hits New Record

HMM’s Cargo Processing at Busan Port Hits New Record
Danny Gill

Hyundai Merchant Marine (HMM) has announced that its cargo processing at Busan Port, the largest sea gateway in Korea, has hit a new record.

HMM reports that they handled 167,018 TEUs through the port in July, increasing by 93 percent year-over-year. HMM previously set a record handling over 150 thousand TEUs in Busan Port in April and successfully set a new record recently handling over 160 thousand TEUs after just three months.

Processed cargo during the first seven months of the year reached 1.01 million TEUs, which is HMM’s first million TEU record in Busan Port this year. Greater than last year’s 1.16 million TEUs, HMM expects to overwrite last year’s annual record within August.

The company says the the performance is attributed to the high season’s strong market of China and South East Asia and its global shipping alliance with 2M (Maersk and the Mediterranean Shipping Company) and HMM + K2 (Sinokor Merchant Marine Co. and Heung-A Shipping Co.) consortium. Acquisition of overseas terminal assets also played a role in regaining the trust of foreign cargo owners.

An HMM official said, “with this speed, we expect to handle more than 1.8 million TEU in Busan Port this year, exceeding the aim of 1.5 million TEUs that we announced earlier this year,” and that “we will do our best to grow further as Korea’s national carrier and contribute to rebuilding Korea’s maritime business.”

Ocean Carriers
Danny Gill

Danny is currently a Contributing Writer for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

More in Ocean Carriers

Yang Ming Marine Transport Corp. Charters Ten New Vessels

Yang Ming Charters Ten New Vessels

Logistics ManagerJuly 10, 2018
Wallenius Wilhelmsen Acquires 70% Stake in Syngin Technology

Wallenius Wilhelmsen Acquires 70% Stake in Syngin Technology

Logistics ManagerJuly 9, 2018
ONE Holds Opening Party in Singapore and Releases New Corporate Slogan

ONE Holds Opening Party in Singapore and Releases New Corporate Slogan

Danny GillJuly 2, 2018
CMA CGM to Power Future 22,000 TEU Vessels with LNG

Founding President of the CMA CGM Group Passes Away

Logistics ManagerJune 26, 2018
CMA CGM Group Launches TRAXENS an Innovative Solution for Container Tracking

CMA CGM Group Launches TRAXENS an Innovative Solution for Container Tracking

Logistics ManagerJune 25, 2018
MoU to Drive Digitalization Signed between CMA CGM Ze Box and PSA unboXed

MoU to Drive Digitalization Signed between CMA CGM Ze Box and PSA unboXed

Logistics ManagerJune 13, 2018
HMM Chooses Shipbuilders to Build their Fleet of Eco-friendly Mega Containerships

HMM Chooses Shipbuilders to Build their Fleet of Eco-friendly Mega Containerships

Logistics ManagerJune 13, 2018
APL Expands Their Eagle Express X Service

APL Expands Their Eagle Express X Service

Logistics ManagerJune 12, 2018
Wallenius Wilhelmsen Ocean Receive Record John Deere Hall of Fame Award

Wallenius Wilhelmsen Ocean Receive Record John Deere Hall of Fame Award

Logistics ManagerMay 31, 2018