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4-Traders Homepage  >  Equities  >  KOREA EXCHANGE  >  Hyundai Merchant Marine Co Ltd    011200   KR7011200003

HYUNDAI MERCHANT MARINE CO LTD (011200)
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Hyundai Merchant Marine : Hamad Port adds new service by Korean shipping line

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01/14/2018 | 01:09am CEST

Hyundai Drive docked at Hamad Port. PICTURE: Jayan Orma

QNA/Doha

Hyundai Drive becomes the largest container vessel to enter Hamad Port

Hamad Port announced the addition of a new service from South Korean shipping line Hyundai Merchant Marine (HMM) to its growing network.

HMM's 365.5m-long Hyundai Drive made its first call to Hamad Port, marking the official start of the Hyundai Merchant Marine's KME (Korea Middle East Express) service, Qatar Ports Management Company (Mwani Qatar) said in a statement.

With a capacity of 13,154 TEUs and a draft of 14m, Hyundai Drive is the largest container vessel to enter Hamad Port - Qatar's gateway to world trade, the statement noted.

The new KME service plans to operate weekly direct services to Hamad Port covering a number of major ports in Asia, including the ports of Kwangyang, Busan (South Korea), Ningbo, Kaohsiung, Yantian and Shekou ports (China), Singapore and Port Klang (Malaysia).

Capt Abdul Aziz al-Yafei, director of Hamad Port, said: "We are pleased to announce the start of a new direct service from one of Asia's largest shipping lines to Hamad Port, which will enhance customer options and provide fast and secure solutions to local and international import/export companies with less transit time and lower cost.

"This significant accomplishment comes within the framework of a comprehensive plan implemented by Mwani Qatar under the supervision of the Ministry of Transport and Communications in order to expand Hamad Port's direct shipping line networks and eliminating the intermediate ports by 100%, supporting the port's status regionally and internationally and ensuring the stability of the domestic market."

The arrival of the 365.5m-long container ship reflects global shipping lines' "confidence in Hamad Port and its ability to handle mega vessels thanks to the modern technology available there, which makes it one of the largest and most intelligent ports in the region", al-Yafei said.

He noted that Hamad Port has achieved significant achievements at the regional and international levels in a short period of time, noting that the port received a total of 1,748 vessels in 2017 and handled 772,835 TEU containers, 1,165,180 tonnes of general cargo, 606,412 heads of livestock and 65,096 Roll-on/Roll-off (RoRo) units.

Hyundai Merchant Marine is a leading global shipping company operating over 130 state-of-the-art vessels, encompassing more than 60 sea routes to over 100 ports of call. Established in 1976, HMM is currently one of the top five Trans-Pacific carriers and one of the top 10 carriers in the global shipping industry.

Last updated: January 13 201811:21 PM

(c) 2018 Gulf Times Newspaper 2017 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Income Statement Evolution
Managers
NameTitle
Chang-Keun Yoo Chief Executive Officer & Director
Yoon-Seong Choi Managing Director & Head-Finance
Joon-Soo Jeon Outside Director
Jeong-Bum Kim Director & Head-Container Business
Gyu-Bok Kim Outside Director
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