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HMM's Asia-US west coast volumes soar 77pc yoy

SOUTH Korea's Hyundai Merchant Marine (HMM) has so far this year seen its container cargo volumes surge 77 per cent year over year in the Asia-US West Coast (USWC) trade lane, the company said in a recent statement.

According to PIERS Data, HMM's Asia-USWC transport volumes rose from 7,953 TEU per week during the first six months of 2016 to 14,055 TEU per week by the end of June. As a result, HMM ranks fourth in market share in the trade, up sharply from 12th the previous year, the company said.

HMM's Asia-all US route cargo volumes increased 49 per cent year over year, from 11,626 TEU per week to 17,291 TEU per week in June. The company's market share in the total Asia-to-US trade has grown to 5.8 per cent, up from 2 per cent last, HMM said.

HMM's port operations at Busan Port in Korea have increased by 91 per cent in June compared to the year prior, with volumes jumping from 78,039 TEU per month to 148,950 TEU per month. HMM said the total volumes include 76,376 TEU of international import and export cargo, an 83 per cent increase, and 72,574 TEU of transshipment cargo, up 100 per cent from the same 2016 period, American Shipper reported.

"HMM's volume has dramatically increased, as it has regained customer trust through a successful restructuring and has expanded shipping networks through '2M+H strategic cooperation' and 'HMM+K2' consortium," said the ocean carrier. "We expect higher volumes in the 3rd quarter, since we're heading into the peak season."