HMM Expects Operating Profit to Fall 34-39% in 2027 Amid Container Ship Oversupply

According to Yuhana Securities and KB Securities on November 9, HMM's annual operating profit is projected to decline 34-39% in 2027 as large container ship deliveries and normalization of Suez Canal transit are expected to sharply increase vessel supply. Yuhana estimates HMM's operating profit will fall to 1.46 trillion won in 2027, with container division profit dropping approximately 49% to 945 billion won, while KB Securities forecasts a decline to 1.4 trillion won, representing a 33.9% decrease.

In the near term, HMM is expected to post strong results, with third-quarter operating profit estimated at 1.06 trillion won, up 256.5% year-over-year, driven by elevated freight rates and expanded tanker spot earnings amid Middle East supply constraints.

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