HMM Chips Away At Losses, Becoming More Aggressive in New Year — Panjiva


HMM Chips Away At Losses, Becoming More Aggressive in New Year

China 1758 Corp - Shipping 608 Earnings 365 Mode - Containerized 1005 Mode - Seaborne 1273 South Korea 383 U.S. 3297

Container-line HMM (formerly Hyundai Merchant Marine) reported 4Q revenues that may have increased by 21.7% year over year, the fastest rate of growth since 2Q 2017. The firm’s EBITDA margin may have improved to minus 4.0% from minus 8.2% in 4Q 2017. The company blamed high fuel prices and oversupply for continued losses, though most of its competitors have passed through higher fuel costs to customers. The year over year reduction in losses partly reflects a conservative approach to market share. Shipments to the U.S. from China rose 12.4% year over year compared to 13.7% for its ...

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