Hyundai Merchant Marine (HMM) has announced today that the company is expected to have the largest market share in the Middle East market by beefing up its FE-Middle East trade lanes.
According to HMM, the company invited major agencies in Middle East on June 29 to discuss the launching of new services effective on July 7.
Previously, HMM had only been operated a single route in Middle East named Korea-Middle East Service(KMS). Since Iran sanctions were lifted in January 2016, the cargo volume is expected to increase, and HMM decided to reorganize KMS as Korea-Middle East Express(KME) and introduce China-Middle East Express(CME) in order to consolidate the company’s operations in the region.
The new services will boost HMM’s market share in FE-Middle East market from 8% to 13%, enabling HMM to become the first market leader.
KME, a restructured service of KMS, will be operated by six container ships: three 8,6000TEUs and other three 6,800TEUs. When compared to KMS, the new service will be able to deliver cargoes approximately two days faster, allowing HMM to operate prompt service in the Middle East market.
The port rotation of KME, effective on July 7, is as below: Gwangyang-Busan(Korea)-Ningbo-Yantian(China)-Hong Kong-Singapore-Port Klang(Malaysia)-Jebel Ali-Abu Dhabi(UAE)-Bandar Abbas(Iran)-Karachi(Pakistan)-Singapore-Hong Kong
HMM will also deploy six 4,600TEUs to the newly added CME. With the new trade lane, as the transit time from Shanghai to Dammam of the service will take only 18 days, HMM will be able to offer the best service compared to its competitors’ routes that take 2 to 3 days longer.
The port rotation of CME, effective on July 18, is as below: Qingdao-Shanghai-Xiamen(China)-Kaohsiung(Taiwan)-Shekou(China)- Jebel Ali(UAE)-Dammam(Saudi Arabia)-Bandar Abbas(Iran)-Singapore-Hong Kong
The CME service will add its coverage to Qingdao, Xiamen, Shekou and Dammam, which were not included in the previous service, to expand HMM’s operational networks.
HMM also enhance its service frequency by calling at Bandar Abbas and Jebel Ali, the region’s major ports, twice a week instead of once a week basis in the past.
A spokesperson from HMM said, “HMM can now provide premium Middle East services with reorganized KME and newly added CME. Pivoting our new and best quality services, HMM will continue expanding its presence in Middle East markets.”
In regards to other services, HMM will gradually deploy its seven 13,100TEU container ships that were previously operated for LP6 into Asia-Mediterranean Express Service(EUM) by August.
Source: HMM press release
Editors note: the two updated services can be found at (KME) and (CME).
Source: CME