Korean carrier Hyundai Merchant Marine’s expansion plans are incompatible with market stability. Will it settle for more limited ambitions?
South Korean carrier Hyundai Merchant Marine (HMM) is back in the news with an impending order for as many as 14 Ultra Large Container Vessels (ULCV) of 22,000 teu and for its intriguing re-entrance into the Asia-Europe market as a vessel provider, with reports suggesting a new standalone service called Asia Europe Express (AEX) using 10 Classic Panamax ships of 4,700 teu will commence in April. The AEX ships would be the smallest deployed on the route that is usually reserved for ULCVs, with faster transit times to Europe (Alphaliner indicated calls at Rotterdam, Hamburg and Felixstowe) being used as the carrot to shippers.