South Korean shipping company HMM said on Friday its third-quarter 2026 financial results had improved significantly, with net profit jumping 405% from a year earlier, as its container shipping business continued to make healthy profits amid ongoing global uncertainties.

For the three months ended September 2026, the company reported net profit of KRW 1.55 trillion ($1.16 billion), compared with KRW 304 billion a year earlier. Quarterly revenue also rose sharply to KRW 4.13 trillion, up 52 percent year on year.

Container shipping was the biggest driver of this jump in profitability. Similar to the Gemini Cooperation between Maersk and Hapag-Lloyd, HMM has been implementing a hub-and-spoke network strategy to enhance connectivity and increase operational efficiency.

The container division followed a strateg of expanding its network and higher-yield cargo, the company said. These actions helped drive profit growth despite external pressures such as geopolitical tensions in the Middle East and natural disasters impacting major port operations.

The positive momentum was also reflected in HMM’s cumulative results for the first 9 months of 2026. Net profit was KRW 2.3 trillion, up 52% from KRW 1.52 trillion in the same period of 2025.

In particular to HMM’s strong performance in the container shipping sector, HMM is also continuing to expand its business activities to build a more diversified and resilient revenue structure over the longer term.

Long-term contracts have contributed to more stable revenues in this part of its business, reducing exposure to market volatility. At the same time the company is also expanding its fleet beyond traditional dry bulk carriers and tankers.

HMM is also increasing investment in other vessel segments such as pure car and truck carriers (PCTCs), gas carriers and multi-purpose vessels (MPVs).

This diversification is aligned with the company’s ambition to reduce its dependence on market sensitive shipping segments and to secure more predictable sources of income, while retaining the strong contribution from its container shipping operations to overall financial performance.