HMM announced on July 7 that it has launched its new container service, MA2 (Mediterranean West Africa), connecting Spain and West Africa.
The MA2 service is the first route established under the 'Hub & Spoke' strategy for the container sector since CEO Choi Won-hyuk took office. It connects major ports in West Africa with Algeciras, Spain, a key stop on the long-haul FIM (Far East-India-Mediterranean) route and home to HMM's self-operated terminal.
A total of five feeder vessels will operate on the MA2 service, which has a round-trip duration of 35 days. The ports of call include Algeciras, Tangier (Morocco), Dakar (Senegal), Tema (Ghana), Lekki (Nigeria), and Abidjan (Ivory Coast).
The Hub & Spoke strategy involves large vessels serving as hubs on long-haul routes, while smaller feeder ships connect the spokes, enhancing service. This approach offers shippers flexible transportation routes by linking various departure and destination points.
Notably, the MA2 service will operate separately in the congested West African port segment, improving the punctuality of ultra-large vessels and allowing for flexible adjustments to the feeder network's ports of call.
HMM's network diversification has been a continuous effort since CEO Choi Won-hyuk's appointment in March last year, aimed at strengthening competitiveness in the container sector. The company has focused on qualitative growth by expanding its long-haul and coastal networks and enhancing terminal connectivity.
To this end, HMM has been consistently introducing feeder vessels. From last year to this year, it has secured a total of 27 feeder vessels through various means, including 22 new orders, resale, and second-hand purchases. This fleet expansion aims to maximize efficiency and profitability in conjunction with its existing ultra-large fleet.
An HMM official stated, "We plan to continuously expand services connecting large vessels and feeder ships centered around major global ports. We will continue to strive for growth as a global shipping company through fleet and network expansion and securing eco-friendly vessels."
Meanwhile, HMM is experiencing rising container freight rates, leading to increased expectations for its second-quarter performance. According to financial information provider FnGuide, HMM's consensus operating profit for the second quarter is estimated to be around 340 billion won.
* This article has been translated by AI.
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