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Hyundai MM posts July throughput record-highest at Busan
Thursday, August 24, 2017, 15:45:28 Paul Yoon ckyoon7@paran.com
Hyundai MM has handled 167,018teu at Busan Port for July up 93% from the corresponding period of last year (on-year), posting the monthly highest volume.

Hyundai unveiled on Aug. 22 that it had lifted 167,018teu containers for July, achieving the monthly highest record at Busan. Hyundai had recorded 150,000teu last April monthly for the first time at Busan, topping 160,000teu in three months in July, posting the monthly record-highest. It also took the second place in container handling share rate of 8.6% in June after Maersk Line, rising to 10% in July at Busan.

The large increase in Hyundai’s container July throughput at Busan is due to the big growth in transshipment containers. It handled T/S containers of 85,717teu in July up 133% on-year. It also handled exports-imports containers of 81,301teu for July up 64% on-year.

Hyundai topped 1 million teus, handling 1,008,027teu for Jan.-Jul. this year on an accumulated basis. Though this volume looks short of 165,840teu compared with Busan’s earlier 1,160,000teu recorded in 2016, Hyundai’s advance cargo booking rate has already topped 100% for Aug.-Oct. this year, and Hyundai is expected to break its Aug. record of the previous year.

Hyundai reasons the increase in its container throughput at Busan, citing: “The growth is attributable to the bullish trend in the shipping markets of China and Intra-Asia on the seasonal peak, and to the results of new alliances rearranged, 2M+ H and HMM+ K2. Also, its terminals secured overseas for upgraded competitive edge has much contributed to the elevated overseas shippers’ confidence in Hyundai.”

Backed by this strong ongoing trend, Hyundai is expected to handle 1.80m teu far exceeding this year’s initial target of 1.50m teu, thus gearing up for in-house stability and for solid growth. And it looks ahead to grow as Korea’s signature container shipping line, contributing to reconstruction of domestic maritime services including ship operation, ports and logistics services.

According to Piers Data, Hyundai posted July’s throughput increase of 63% at the west coast of US on-year, which is translated into weekly 15,346teu. Its July market share rate stood at up 2.2% to 7% on-year.
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