HMM Co. has signed a joint venture deal with Singapore port operator PSA International to set up a terminal.
HMM, South Korea's biggest shipping company by sales, will have a 42 percent stake in the HMM-PSA Singapore Terminal while the rest will be held by PSA International.
Currently, HMM has seven terminals -- one in South Korea and two each in Europe, the United States, and Taiwan.
Adding a terminal in Singapore, the world's busiest container transshipment hub, would be very vital for HMM in meeting robust demand.
HMM last month deployed one of its 4,600 twenty-foot equivalent unit container vessels for the Southeast Asian route.
North America remains HMM's biggest revenue source, responsible for 35.5 percent of its first-half revenue.
Asia, including the Middle East and India, accounted for 25.3 percent, while 15.7 percent came from Europe.
HMM returned to profitability in the second quarter, after 21 quarters, due to improved efficiency brought by the deployment of a 24,000-TEU super-large container vessel.


Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand
Air Transat Reaches Tentative Agreement With Pilots, Avoids Strike and Restores Normal Operations
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform
GameStop Misses Q3 Revenue Estimates as Digital Shift Pressures Growth
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns
Samsung SDI Secures Major LFP Battery Supply Deal in the U.S.
Rio Tinto Signs Interim Agreement With Yinhawangka Aboriginal Group Over Pilbara Mining Operations
Nvidia Develops New Location-Verification Technology for AI Chips
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise
Westpac Director Peter Nash Avoids Major Investor Backlash Amid ASX Scrutiny
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 



