HMM's Potential 2M Membership in Question Following Seemingly Conflicting Reports

by Ship & Bunker News Team
Tuesday November 22, 2016

Maersk Line and Hyundai Merchant Marine (HMM) have issued seemingly conflicting reports on the possible future HMM may have with the 2M shipping alliance, JOC reports.

In a statement to clients last week, confirmed by JOC as authentic, Maersk Line said that HMM would not become a formal member of 2M, which currently consists of Maersk Line and Mediterranean Shipping Company S.A. (MSC).

"The parties have discussed the possibility of HMM joining 2M as an operating partner and now decided to look at other co-operation possibilities," the Maersk Line statement read.

"The parties are therefore discussing the possibility of HMM partnering with the 2M network through a slot purchase agreement."

Maersk Line says that ongoing partnership discussions have introduced the possibility that some of HMM's current charters and operations could be taken over by Maersk Line for use in 2M's network.

Meanwhile, HMM has suggested its membership to 2M was still an option.

"HMM joining 2M is under discussion," HMM told JOC on Sunday, adding: "details will be concluded shortly. Formal agreement will be made either at the end of November or the beginning of December."

HMM announced in June that it had embarked upon negotiations to join the 2M Alliance, contradicting earlier statements that it wanted to join THE Alliance.

In August, in response to speculation to the contrary, Maersk Line said it had no plans to acquire HMM.

Ship & Bunker News Team
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