BUSINESS

HMM mulls joining 2M Alliance

By Ahn Sung-mi
  • Published : Jun 23, 2016 - 14:20
  • Updated : Jun 24, 2016 - 08:39

[THE INVESTOR] Hyundai Merchant Marine is considering joining the 2M Alliance, a vessel-sharing agreement between Denmark’s Maersk Line and Switzerland’s Mediterranean Shipping Company -- the world’s first and second largest container carriers.

Amid growing speculation that Korea’s second-largest shipping company is set to join the alliance, a HMM official confirmed that discussions are ongoing with the alliance parties on June 23.

A container vessel is displayed at Hyundai Merchant Marine's headquarters.         Lee Sang-sub/The Investor

Previously, HMM had tried to enter another six-party partnership, The Alliance, consisting of HMM’s local rival Hanjin Shipping, Hapag-Lloyd, K Line, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Yang Ming. However, Hanjin Shipping and Japan’s K Line were reluctant to accept HMM’s request, local news reported. 

According to industry insiders, HMM’s entry will be able to strengthen Asian trade lane of European-based 2M alliance, which had relatively low representation in the region.

By Ahn Sung-mi (sahn@heraldcorp.com)





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