HMM maintains solid profitability in 2025 despite market weakness

HMM reported stable earnings in 2025, despite a sharp decline in global freight rates and weaker market conditions.

The company posted revenue of KRW 10.9 trillion, operating profit of KRW 1.46 trillion, and net profit of KRW 1.88 trillion for the year. The operating margin stood at 13.4%, reflecting solid profitability in a challenging environment.

Freight markets remained under pressure throughout 2025. The Shanghai Containerized Freight Index averaged 1,581 points, down 37% from 2024. Rates fell sharply on major routes, including the US West Coast (-49%), US East Coast (-42%), and Europe (-49%).

Despite the downturn, HMM improved performance in the second half of the year. In the third quarter, operating profit rose 6.9% quarter-on-quarter, with an operating margin of 11.7%. In Q4 2025, revenue reached KRW 2.7 trillion, while operating profit increased 6.9% from Q3.

On a year-on-year basis, however, full-year results declined. Revenue fell 6.9% compared with 2024, while operating profit dropped 58.4% and net profit declined 50.3%.

Looking ahead, HMM expects continued pressure from vessel oversupply, as new container deliveries outpace demand growth. In response, the company plans to expand its hub-and-spoke network, strengthen low-emission services, and optimize feeder operations to improve cost efficiency.

In the bulk segment, HMM aims to drive stable growth by diversifying its portfolio and developing new business opportunities.

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