CEVA Logistics Strengthens Relationship with HMM

CEVA Logistics is connecting more shippers with ocean capacity through a newly signed agreement with South Korean ocean carrier HMM, the 8th largest global provider of container shipping by 20-foot equivalent units (TEUs). The multi-year deal, which lasts into 2025, builds on the two companies existing relationship and brings CEVA’s strategic ocean partner network to 14 global and regional carriers. While HMM was already an existing ocean carrier for CEVA, the new agreement expands that relationship with both companies agreeing to increase the level of collaboration. As an independent Non-Vessel Operating Common Carrier (NVOCC), CEVA manages Full-Container Load (FCL) and Less-thanContainer Load (LCL) shipments to and from 237 countries around the world. The company offers more than 60,000 port pairs and 600,000 door-to-door combinations. In 2021, CEVA managed approximately 1.4 million TEUs of FCL and LCL ocean cargo. Stephane Gautrais, global head of ocean freight, CEVA Logistics, said: “Our position as a leading NVOCC is dependent on the strong relationships we maintain with ocean carriers. Despite challenging market conditions, HMM has proven to be a strong, reliable partner over the last several years, and this agreement solidifies and expands what we expect to be a long-term, strategic relationship that will enable us to make vital connections in global commerce in service to our ocean cargo customers.” Jeremy Choi, chief global trade management, HMM, said: “Ceva Logistics has been long term partnered, proven and recognized a VIP customer to work with HMM. We cherish the strategic relation and business collaboration having been built up for many years. Based on this agreement, we anticipate both companies create and provide more workable and productive solutions together to the market customers in need.” For information, previously HMM reveals a mid-to long-term strategy to diversify its business portfolio for future growth and leap forward to be a global top-rated shipping and logistics company. The strategy includes expanding the fleet capacity of containerships to 1.2 million TEU from the current 820,000 TEU by 2026. The extension of bulk business is also scheduled by increasing its fleet to 55 ships from the current 29 ships on the same timetable. In particular, HMM will invest more than KRW 15 trillion in a range of initiatives, including securing core assets such as ships, terminals, and logistics facilities throughout the upcoming five years from 2022 to 2026. HMM explained that the future strategy has been established to respond to growing uncertainty arising from ever-changing business circumstances and lay a solid foundation for sustainable growth.***

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