HMM maintains profitability in H1 2026 despite volatile shipping market

HMM maintained solid profitability in the first half of 2026 despite higher fuel costs and disruption linked to the Middle East conflicts.

The South Korean container carrier reported revenue of KRW 6.121 trillion for H1 2026. Operating profit reached KRW 623 billion, while net profit stood at KRW 765 billion.

As a result, HMM recorded an operating margin of 10.2% for the six-month period.

In the second quarter alone, revenue reached KRW 3.402 trillion. The carrier posted an operating profit of KRW 354 billion and a net profit of KRW 411 billion.

Freight rates recover from late May

Container freight rates improved during the first half of the year.

The Shanghai Containerized Freight Index (SCFI) averaged 1,957 points during H1 2026. This was 15% higher than the 1,701-point average recorded during the same period last year.

However, HMM faced pressure from the Middle East conflicts that began in March. The disruption resulted in revenue losses and higher fuel costs.

Market conditions improved from late May as the container shipping peak season started earlier than usual. This helped freight rates rebound.

HMM focuses on fleet efficiency

HMM said it maintained profitability by controlling fuel costs and improving fleet efficiency.

The carrier also used its “Hub & Spoke” strategy to optimise operations. In addition, HMM sought to capture new cargo demand in Southeast Asia.

These measures helped the company navigate a volatile market during the first six months of the year.

Market uncertainty expected in Q3

HMM expects uncertainty to remain elevated during the third quarter.

The carrier pointed to several risks that could affect container shipping markets. These include US tariffs, port congestion, geopolitical conflicts and wider supply chain disruption.

Such factors could continue to influence freight rates, operating costs and cargo flows during the remainder of 2026.

HMM continues major investment programme

Alongside its operational strategy, HMM plans to continue investing in its fleet and wider business.

The company has invested KRW 10 trillion over the past 15 months.

Looking ahead, HMM will continue investments under its expanded KRW 29 trillion mid- to long-term strategy through 2030. The programme is designed to strengthen the carrier’s future competitiveness and support long-term growth.

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