South Korean container shipping company, Hyundai Merchant Marine (HMM), has launched a new vessel service connecting ports in Far East Asia and Latin America to deliver a more comprehensive service.
The new Far-East-India-Latin America Service (FIL) will commence from Busan on 7 December and the full circulation of the service will take 84 days.
The full port rotation is also follows; Busan (South Korea) – Ningbo (China) – Shekou (China) – Singapore – Kattupalli (India) – Durban (South Africa) – Santos (Brazil) – Paranagua (Brazil) – Itapoa (Brazil) – Navegantes (Brazil) – Buenos Aires (Argentina) – Montevideo (Uruguay) – Singapore – Hong Kong (China) – Busan.
“With the introduction of the FIL service, we are expected to provide our customers with a more efficient and reliable service,” started an official from HMM. “We will continue to expand our presence in the Latin America trade that has a high potential for future growth and development.”
This follows the news that HMM experienced container handling volumes of 1.93 million TEU in H1 2021, an increase of 8.4% on H1 2020 levels. On top of this, the company also recorded its highest ever operating profit, with a 98% revenue growth during this period, reaching KRW 5334.7 billion.
The Korean shipping line also forecasted that the global supply chain will “remain stranded” due to congestion at major ports, vessel and container shortages and increases in cargo demand.