C. K. Yoo, CEO of Hyundai Merchant Marine (HMM), has outlined the South Korean shipping company’s vision for 2022.
At a presentation on October 26, Yoo revealed HMM’s ambition to increase capacity to one million TEU, as well as the company’s aims to post annual revenue of USD $10 billion by 2022.
HMM has recently ordered twelve 23,000 TEU and eight 15,000 TEU eco-friendly mega ships, as it prepares for the International Maritime Organisation’s (IMO) sulphur regulations.
The new vessels, which are also expected to boost competitiveness through economies of scale, will be delivered from 2020 in sequential order.
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In addition to this, HMM also plans to finalize its acquisition of stakes in Hyundai Pusan New Port (HPNT) by the end of 2018.
Yoo, who also discussed how smart technologies will support the company’s 2022 vision, stated: “HMM will do its utmost to improve productivity by connecting Block Chain and IoT technology to our services in order to increase customer satisfaction.
“We need to transform HMM to an IT-friendly company to fulfil our vision of smart shipping.”
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