[ FA 2000 Business Strategy Meeting--First Half Year 1996 ]

HMM held the first of this year’s two FA 2000 Business Strategy meeti
ngs in the Seoul head office between January 22 and 25. The meeting wa
s attended by management, officers from the United States, Europe and
Asia, and officers from Seoul headquarters.
During the general meeting, each business division (Container, Bulk, A
dministration and Maritime) presented its 1996 plan.
Next came discussions dealing with Trans-Pacific, Atlantic, Europe/Asi
a and Asia&Oceania container business, bulk business, and administrati
on. The main topic was the analysis of current sales record and the fo
rmations of a sales stretegy for FA 2000.
The goal for container business is 960,000 TEU, up 18 percent from 199
5.
This should be achievable by efficient deployment of seven 5,511 TEU c
ontiner vessels and rearranging services such as the new joint operati
on with K-Line between Asia and North America, and the new joint opera
tion with Mediterranean Shipping Co. S.A. and Norasia Lines Ltd betwee
n Asia and Europe. HMM will also increase investment in harbor and log
istics facilities.
Among other developments will be the opening of the exclusively owned
container terminal in Kaohsiung and the furthering of plans to acquire
a depot in China.
As for bulk business, this year HMM is scheduled to take delivery of t
hree Pure Car & Truck Carriers, each with a capacity of 6,000 compact
cars. This will bring yearly transportation capacity to 1,020,000 cars
. At the end of this year, the company will take delivery of a new LNG
carrier and operate her between Pusan and Malaysia under a 20-year co
ntract with the Korea Gas Corporation.
And there is a plan to commit a Very Large Crude Carrier to the Middle
East route.