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Hyundai Merchant targets 25% sales increase in 2020

(Yonhap)
(Yonhap)

Hyundai Merchant Marine Co., South Korea's biggest shipping company by sales, said Tuesday it aims for a 25 percent rise in its 2020 sales on the back of increased cargo-shipping demand.

Hyundai Merchant Marine's sales came to 4.16 trillion won ($3.5) in the January-September period. Sales for the fourth quarter have yet to be released.

Hyundai Merchant Marine also said it could shift to an operating profit in the third quarter this year, citing increased cargo-shipping demand and its April joining of THE Alliance, one of three vessel-sharing agreements in the ocean freight transportation industry.

The two others are 2M Alliance and Ocean Alliance. Hyundai Merchant Marine's contract with 2M Alliance is set to end in March.

Hyundai Merchant Marine has been mired in operating losses since the second quarter of 2015. (Yonhap)

 

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