HMM reported a second-quarter earnings rebound as stronger freight rates and better fleet utilization offset supply chain instability and cost pressures tied to the Middle East. The company posted revenue of ₩3.4 trillion, operating profit of ₩354.1 billion and net profit of ₩411.4 billion, with revenue up 30% year over year and operating profit up 52%, while net profit fell 13%. Compared with the first quarter, revenue rose 25%, operating profit increased 32% and net profit gained 16%. For the first half, HMM recorded revenue of ₩6.12 trillion, up 12% from a year earlier, while operating profit fell 26% to ₩623.2 billion and net profit dropped 37% to ₩765 billion. The company said first-half results were pressured by the fallout from the Middle East war, but performance improved from the second quarter as freight rates recovered. HMM said the average SCFI (Shanghai Containerized Freight Index, a benchmark for container shipping rates) reached 1,957 points in the first half, up 15% from 1,701 points a year earlier, helped by an earlier-than-usual peak season beginning in late May. HMM also cited fuel cost optimization, its Hub & Spoke strategy and efforts to capture new demand in Southeast Asia and other markets. The company said the second-half outlook remains uncertain because of possible changes in U.S. tariff policy, congestion at the Panama Canal and major ports, and the prolonged Middle East conflict. Against that backdrop, HMM is pressing ahead with large-scale investment, having executed about ₩10 trillion over the 15 months from the second quarter of last year through the first half of this year, while expanding its 2030 Mid-to-Long Term Strategy investment plan to about ₩29 trillion.