Cargo handling for routes to and from China and the United States grew the most, while those on Japan, Vietnam and India routes also increased. The company had aimed to handle 1.5 million TEUs at the Busan Port this year. Officials said they expect to do much better than the goal.

The company attributed the performance to its global shipping alliance with Maersk and the Mediterranean Shipping Company, struck in December last year. The consortium formed in March with local rivals Sinokor Marchang Marine Co. and Heung-A Shipping Co. also helped, it said.

Hyundai Merchant, once threatened by financial troubles last year, had reached a deal with its creditors on a self-restructuring plan that included debt-for-equity swaps. Last week, the company said its operating loss for the first quarter this year narrowed from the previous quarter with a 7 percent on-year increase in sales.

"We thank the local and overseas shippers that have actively helped us over the past five to six months," the company CEO Yoo Chang-keun said. "Every one of us at the company feel a deep responsibility as an international shipping company, and we will respond with the best service." (Yonhap)