Alphaliner: HMM idea of holding 5pc of box market is 'far-fetched'
ALPHALINER cast doubt on Hyundai Merchant Marine's prediction it would more than double its global container market share to five per cent by 2021 as "unrealistic" and "far-fetched".
"In order to achieve its targeted market share, HMM would need to add over 650,000 TEU of additional capacity by 2021 a tall order, given that the carrier is currently not engaged in any newbuilding programme," said Alphaliner.
Moreover, HMM management has publicly stated the ocean liner will "be engaged in overly-active fleet expansion," which Alphaliner slammed as being even more "far-fetched," particularly, as the company has "failed to back up these growth plans with any coherent strategies," reported Singapore's Splash 24/7.
To control five per cent of the market, HMM would need to expand vessel capacity from its current 455,000 TEU to 1.1 million TEU over the next four years.