HMM is strong in the pre-market (Pre-Market · 8 a.m. to 8:50 a.m.) on the 18th. This is interpreted as being a result of expectations that the U.S. government will benefit from imposing docking charges on Chinese shipping companies and vessels.
As of 8:13 a.m. that day, HMM was trading at 20,650 won, up 1,380 won (7.16%) from the previous trading day in the Next Trade pre-market.
That day, the United States Trade Representative (USTR) decided to impose fees on all vessels built in China or owned by Chinese nationals upon entering U.S. ports. The fees will be gradually imposed starting from October 14, with a 180-day grace period, and will increase annually.
As a result of most vessels being ordered from the three domestic shipyards, expectations are growing that HMM, which has a low percentage of Chinese-flagged vessels, will benefit. HMM has only five Chinese-flagged ships among its fleet of 82 container ships. Of these five ships, two chartered vessels are expected to be returned soon due to the expiration of their charter periods, while three owned vessels are mainly deployed on Southeast Asia routes and are small ships rated at 1,700 TEU (1 TEU is one 20-foot container).