HMM expands its market share on Asia-U.S. routesHyundai Merchant Marine’s shipping volume in the American West Coast rose 61 percent year on year last month, the company said Thursday.
HMM delivered 14,769 twenty-foot equivalent units of cargo a week to the West Coast, a 5,586 TEU increase from a year earlier, according to data from PIERS, an affiliate of the American trade magazine Journal of Commerce.
During the same period, HMM’s market share on the Asia-West Coast route rose 2.4 percentage points to 7.3 percent, 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 percent 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.
“After the breakdown of Hanjin Shipping, we’ve added an extra loader and also launched a new Asia to U.S. West Coast service, which helped the company absorb Hanjin’s orders on the route and increase market share,” the company said in a statement. “We will continue to focus on expanding our presence in the Asia-U.S. route.”