World News
Maersk Line Says it Has No Plans to Acquire HMM
Robbert Van Trooijen, Maersk Line's Asia Pacific CEO, says that to his knowledge, Maersk Line has no plans to acquire Hyundai Merchant Marine (HMM), local media reports.
As Ship & Bunker previously reported, rumours began to swirl of a possible acquisition of HMM after it was announced that HMM was in talks to join shipping giants, Maersk Line and the Mediterranean Shipping Company S.A. (MSC), in the 2M alliance.
"I am not aware of any plans to merge with Hyundai," said Van Trooijen.
"We can confirm that Maersk Line, part of 2M, has signed an MoU with Hyundai Merchant Marine on HMM potentially joining the 2M VSA in 2017."
Contrary to the rumours, 2M made the decision to cooperate with HMM in an effort to enhance its trans-Pacific capacity, Van Trooijen added.
"The inclusion of Hyundai Merchant Marine in 2M would provide us with extended coverage and a stronger product in the trans-Pacific trade," he explained.
In Late June, Drewry called news that the financially troubled HMM was in negotiations with Maersk Line and MSC to join the 2M alliance a "bizarre" twist that suggested there was more to the story.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.50 | 775.00 | 3.50 |
| Rotterdam | 603.50 | 1.50 | 759.50 | 11.50 |
| Houston | 626.50 | 2.50 | 794.00 | 2.00 |
| Fujairah | 649.00 | 0.50 | 904.50 | 6.50 |
| Global 20 Ports Average | 664.00 | 2.00 | 855.00 | 0.00 |
| Global 4 Ports Average | 632.00 | 1.00 | 808.00 | 4.00 |
| Global Average Bunker Price | 716.50 | 1.00 | 901.00 | 12.50 |
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