HMM said on the 13th that operating profit in the third quarter of this year was 296.8 billion won, down 79.7% from the same period last year.
Revenue for the same period fell 23.8% to 2.7064 trillion won, and net profit dropped 82.5% to 303.8 billion won.
HMM explained that third-quarter volume fell sharply this year due to the full-scale implementation of U.S. protective tariffs.
The Shanghai Containerized Freight Index (SCFI) in the third quarter of this year was 1,481, down 52% from the same period last year.
In particular, average trans-Pacific freight rates during the same period plunged 69% on the West Coast route and 63% on the East Coast route, respectively.
However, HMM's third-quarter operating margin was 11%, ranking among the top tier of global carriers.
An HMM official said, "We plan to optimize operating efficiency by adjusting ports of call and deployed vessels by route, actively attract high-margin specialty cargo such as refrigerated and oversized cargo, and improve profitability by developing new sales lanes."