South Korean container shipping company HMM has announced solid results in the first quarter of 2025.

In particular, HMM reported a 23% revenue jump year-on-year to KRW2,855 billion (US$2 billion), a 51% increase in operating profit, reaching KRW614 billion (US$439 million) and a 52% growth in net profit to KRW740 billion (US$520 million).

“Despite declining freight rates and the impact of U.S. tariff policies, we achieved solid profit growth in Q1 2025 through fleet expansion, the launch of new services, and strengthened sales efforts,” said an HMM official.

Additionally, the company’s operating margin rose to 21.5%, compared to 17.5% in the same period last year.

HMM expects volatile market conditions to persist due to risks from ongoing U.S. tariff negotiations, vessel oversupply, and geopolitical instability, including uncertainty over the resumption of transit through the Red Sea.

A decline in cargo volume from China to the U.S. is also expected to disrupt the supply-demand balance and place downward pressure on freight rates, according to the major ocean carrier.