South Korean shipping company Hyundai Merchant Marine has signed an agreement with smaller Asia-only carriers Heung-A Shipping and Sinokor Merchant Marine to form a niche shipping alliance targeting intra-Asia trade. The new alliance, called HMM + K2, is planned to begin operations in March 2017 and will automatically renew every two years. The network will cover Japan, … [Read more...]
Shippers Kick Back at 2M Alliance Plans to Put Cargo on HMM Ships
By Mike Wackett (The Loadstar) - News that their cargo may be loaded onto Hyundai Merchant Marine (HMM) vessels has angered customers of the 2M Alliance. Shippers expressed concern after the announcement of a strategic cooperation agreement to commence in April, with 2M partners Maersk and MSC taking over charter and operation of a number of the South Korean carrier’s … [Read more...]
HMM, Maersk Line Statements on 2M ‘Strategic Cooperation’
South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) said on Sunday it has agreed with the 2M shipping alliance (Maersk Line and Mediterranean Shipping Company) to form a cooperative relationship that falls short of full-fledged membership. (See story here). Joining an alliance with major shipping firms was one of the conditions of a debt restructuring deal between … [Read more...]
Hyundai Merchant Marine Secures 2M Deal
SEOUL, Dec 11 (Reuters) - Heavily indebted South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) said on Sunday it has agreed with the 2M shipping alliance to form a cooperative relationship that falls short of full-fledged membership. Joining an alliance with major shipping firms was one of the conditions of a debt restructuring deal between Hyundai Merchant Marine and … [Read more...]
Hyundai Merchant Marine’s 2M Alliance Membership in Doubt
By Jacob Gronholt-Pedersen and Joyce Lee COPENHAGEN/SEOUL, Dec 9 (Reuters) - Doubts about the future of Hyundai Merchant Marine Co Ltd surfaced on Friday after Denmark's Maersk Line said the South Korean shipping firm was no longer being considered for the 2M vessel-sharing alliance. Joining an alliance with major shipping firms was one of the conditions of a debt … [Read more...]
HMM Must Settle for Slot Exchanges Over Full Membership in 2M Alliance
By Mike Wackett (The Loadstar) - Hyundai Merchant Marine (HMM) may have to settle for a slot exchange agreement with 2M partners Maersk Line and MSC, rather than full membership of the alliance. HMM has been in talks with the 2M members since July on joining the vessel-sharing alliance next April. News that this won’t happen potentially undermines its ongoing … [Read more...]
THE Alliance Container Grouping Unveils Service Lineup
By Mike Wackett (The Loadstar). - THE Alliance – Hapag-Lloyd, K Line, MOL, NYK and Yang Ming – have announced their pro-forma east-west tradelane network for April next year. It follows publication by rival grouping the Ocean Alliance last week and news that the container divisions of the Japanese shipping groups would merge. THE Alliance said its product, which is … [Read more...]