HMM expands market share on Asia-US routes
Hyundai Merchant Marine's shipping volume on the American West Coast rose 61 per cent year-on-year in November 2016, the company said recently.
HMM delivered 14,769 TEUs a week to the West Coast, a 5,586-TEU increase from a year earlier, according to data, the company release said.
During the same period, HMM's market share on the Asia-West Coast route rose 2.4 percentage points to 7.3 per cent, pushing up the company's rank on the route from 11th to fifth.
HMM's market share on all routes to America, including the eastern and western seaboard, was 6.2 per cent in November, an increase of 1.5 percentage points from last year. The figure puts HMM at seventh among global players, from 10th last year, the release highlighted.
"After the breakdown of Hanjin Shipping, we've added an extra loader and also launched a new Asia to US West Coast service, which helped the company absorb Hanjin's orders on the route and increase market share," the company said in its statement. "We will continue to focus on expanding our presence in the Asia-US route."