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HMM’s cargo processing soars at Busan Port

HMM’s cargo processing at Busan Port, the largest sea gateway in Korea, increased 72 percent last month from a year ago, helped by its shipping alliances, the company said.

HMM processed 150,332 TEUs of cargo through the port in April, the second-largest volume after Maersk. The total includes 81,625 TEUs of imports and exports, an increase of 68 percent on-year, and 68,707 TEUs of transit cargo, up 77 percent.

Cargo handling for routes to and from China and the United States grew the most, while those on the Japan, Vietnam and India routes also increased. HMM had aimed to handle 1.5 million TEUs at the Busan Port this year.

The company attributed the performance to its global shipping alliance with 2M (Maersk and the Mediterranean Shipping Company), struck in December last year. The consortium formed in March with Sinokor Merchant Marine Co. and Heung-A Shipping Co. also contributed.

Last week, the company said its operating loss for the first quarter this year narrowed from the previous quarter with a 7 percent on-year increase in sales.

“We thank the local and overseas shippers that have actively helped us over the past five to six months,” said CEO Yoo C.K. “Every one of us at the company feels a deep responsibility as an international shipping company, and we will respond with the best service.”

Source credit: http://www.hmm21.com/cms/company/engn/introduce/prcenter/news/1202122_7540.jsp

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