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ALLIANCE SHAKE-UP: HMM leaves 2M for THE Alliance

PortandTerminal.com, July 1, 2019

South Korean line HMM has agreed to join THE Alliance, becoming the fourth member of the liner alliance set up by Hapag-Lloyd, Ocean Network Express and Yang Ming in 2016

South Korean container shipping company HMM will become a full member of container alliance THE Alliance. HMM has been in a strategic partnership with Maersk’s 2M alliance for several years.

HMM will join the alliance as a full member, with a new contract between the four lines set to officially start on April 1, 2020. Additionally, all four members have agreed to extend the partnership for ten years through to 2030.

HMM is a great fit for THE Alliance as they will provide a number of new and modern vessels, which will help us to deliver better quality and be more efficient – and it will help us also to further reduce our emissions

Rolf Habben Jansen, CEO of Hapag-Lloyd

HMM has ordered twelve 23,000 TEU vessels which will be delivered in the second quarter of 2020. On top of this, eight 15,000 TEU new builds will join HMM’s fleet in the second quarter of 2021. HMM’s 23,000 TEU new builds will operate in the Far East-North Europe trade and will enhance THE Alliance’s service portfolio.

Previously, HMM was aligned to Maersk and MSC alliance 2M, but was only able to negotiate a vessel sharing agreement which was due for renewal next April.

Jae-hoon Bae, president and CEO of HMM, commented: “Being a full member of THE Alliance gives us a lot of pride. We are convinced that we will be successful and generate additional value for our customers, employees and shareholders with combined experience, strategic skills, competitive fleet and a strong focus on our clients´ needs.”

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