Hyundai Merchant ranks 4th in on-time performance

SEOUL-- Hyundai Merchant Marine Co., South Korea's largest shipper, ranked fourth in terms of on-time performance among global container lines, the company said Sunday.

According to the company, 83.6 percent of Hyundai Merchant's container ships arrived in port on time in June, up 8.6 percentage points from the previous month, citing a report by SeaIntel Maritime Analysis, a Danish market research firm. Its standing marks a significant improvement from 12th place in May.

The result is based on a schedule reliability study of 18 global shipping lines, with the overall on-time performance rate reaching an average 78 percent.

Hyundai Merchant is in a business alliance with Maersk Line and Mediterranean Shipping Company (MSC), the two key members of the 2M Alliance, in efforts to get over a credit crunch stemming from a slowdown in global trade.

Source: Yonhap News Agency

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