Seatrade-Maritime: HMM first half profit down 37%, sees rising market uncertainty

Published by Seatrade-Maritime

South Korean shipping company HMM reported a 37% drop net profit in the first half of 2026 compared to the same period in 2025.

Net profit for H1 2026 stood at KRW765 billion ($537 million) compared to KRW1.21 trillion in the same period a year earlier. Profits fell in the first half despite revenues being up 12% at KRW6.12 trillion in the H1 2026 compared to the previous year.

“Despite revenue losses and rising fuel costs driven by the Middle East conflicts since March, freight rates rebounded starting in late May due to the early onset of the peak season,” the company said.

The second quarter showed a narrowing of the drop in profit to 13% compared to the same quarter in 2025 with net profit KR411 billion, while revenues were up 30% at KRW3.4 trillion.

Commenting on the results the company said: “HMM secured stable profitability amid market volatility by optimizing fuel costs, maximizing fleet efficiency through its ‘Hub & Spoke’ strategy and capturing new demand in Southeast Asia.”

Looking ahead it said: “Q3 market uncertainty is set to rise due to supply chain risks like U.S. tariffs, port congestion and geopolitical conflicts.”