A surge of 719.6%! South Korean container shipping company HMM's third-quarter profit is released

Since the beginning of this year, repeated outbreaks of the epidemic in some parts of the world have caused obstruction of the global supply chain. The ensuing peak season has greatly increased shipments, container ships are in short supply, and shipping costs have continued to rise. Many shipping companies around the world have made a lot of money during this period.

Chinese sellers once said in the third quarter that the shipping costs were ridiculously high, but they still tried every possible way to get the goods on board. Some giant retail companies even started to contract ships and transport goods themselves in order to meet the peak season and ensure the normal transportation of goods. This shows how popular global shipping companies are in the market this year.

Just recently, according to foreign media reports, the third-quarter results of HMM, South Korea's largest container company , were released, setting a record. On November 10, HMM released a preliminary financial report stating that its operating profit in the third quarter of this year reached 2.27 trillion won (about 12.295 billion yuan), a year-on-year surge of 719.6%.

HMM's quarterly operating profit exceeded 2 trillion won for the first time , and sales increased by 133.7% year-on-year to 4.16 trillion won (about 21.753 billion yuan). Since the fourth quarter of last year, the company's performance has broken records for four consecutive quarters.

In the first nine months of this year, HMM's cumulative operating profit and sales were 4.68 trillion won and 9.35 trillion won respectively. According to this trend, HMM's full-year operating profit is expected to exceed 6 trillion won (about 32.487 billion yuan).

HMM believes that with the increase in vaccination rates and the recovery of global demand, freight volumes are growing and shipping rates are skyrocketing, all of which have driven the company's performance .

Although domestic shipping costs have dropped briefly due to power rationing, as things stand now, it is the Black Friday peak season, and container freight rates from Asia to the West Coast of the United States are still high. The large shipment volume makes container ships still very "popular" in the market .

Following this trend, shipping companies will likely continue to maintain their dominant position in the coming period, and their earnings will continue to grow!

Korea Shipping Company