The South Korean shipping company Hyundai Merchant Marine (HMM) has closed the 2025 fiscal year with a halving of its net profit, which amounted to approximately 1.090 billion euros, 50.3% less than in 2024. The company reported revenues of 6.323 billion euros, a 6.9% decline from the previous year, while the operating profit fell by 58.4% to 848 million euros. Despite these declines, the operating margin remained at 13.4%, a figure that HMM considers a reflection of solid profitability in a context of widespread weakness in the global shipping market.
HMM's trajectory in 2025 follows the same trend affecting the entire group of major container shipping operators. The Shanghai Containerized Freight Index (SCFI), a benchmark for freight rates in the container segment, averaged 1,581 points during the year, representing a 37% decrease compared to the average of 2,506 points recorded in 2024. Rates fell especially sharply on major trade routes: down 49% on the U.S. West Coast, 42% on the U.S. East Coast, and 49% on routes to Europe.
However, the fourth quarter of 2025 showed a differentiated performance compared to other competitors in the sector. HMM recorded an improvement over the third quarter, with a quarter-on-quarter increase in net results of 20%, although the year-on-year comparison continued to show double-digit declines: revenue fell 14.2%, operating results dropped 68.3%, and net profit decreased 59.5% compared to the same period in 2024.
Looking ahead to 2026, the South Korean shipping company anticipates a market marked by oversupply due to the delivery of a high number of new container ships, in an environment where demand growth remains weak. HMM believes that this situation could exacerbate the imbalances between supply and demand that already characterize the sector. This factor is compounded by the possibility of a return of traffic to the Suez Canal via the Red Sea, a scenario that would free up even more capacity in the container segment and add additional pressure on rates.
In light of these prospects, the company has announced a strategy focused on expanding its maritime network under the radial model and strengthening its low-emission service offering, with the dual goal of gaining market share and improving its cost structure. The optimization of feeder ship operations constitutes a central piece of this plan, aimed at offering competitive rates to its customers and balancing the accounts in a year that is expected to be challenging for the entire industry.
In the bulk segment, HMM aims to achieve stable growth through the diversification of its service portfolio and the identification of new business opportunities that complement its main activity in container transportation.