HMM officially joins 2M alliance through strategic cooperation

Paterniano Del Favero
Marzo 20, 2017

The South Korean shipping operator Hyundai Merchant Marine officially signed the strategic cooperation agreement with 2M Alliance, which participants are Maersk Line and MSC.

After announcing its intention to acquire German box freight line Hamburg Süd, in December 2016, Maersk Line has now signed a final Purchase Agreement for the world's eighth largest container shipping line and all its affiliates including the main business assets (vessels and containers) from the Oetker group, subject to regulatory approvals. West Coast services, and slot purchases on services between Asia and the U.S. East Coast, Asia and North Europe, and Asia and the Mediterranean.

"We are very pleased to forge strategic partnership with Hyundai Merchant Marine, Korea's leading container shipping company", said Robbert van Trooijen, CEO of Maesk Line Asia Pacific.

"Maersk Line has a long history in Korea spanning 87 years". The 2M+H strategic cooperation agreement is a different form of alliance that provides limited access to other members' cargo rooms compared with a full membership that grants 100-percent sharing of cargo capacity between 2M members. The strategic cooperation agreement is valid for three years with an option to be extended and renewed. "Our partnership with Hyundai Merchant Marine is another link between Maersk Line and Korea".

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