HMM in Discussions to Join 2M Carrier Alliance

HMM Thursday announced that it has embarked upon negotiations to join the 2M Alliance.

Hyundai Merchant Marine (HMM) Thursday announced that it has embarked upon negotiations to join the 2M Alliance - currently consisting of Maersk Line and Mediterranean Shipping Company S.A. (MSC) - contradicting earlier statements that it wanted to join THE Alliance.

"The 2M carriers and HMM are ideal partners as we can work together in order to create a great synergy for the alliance by supplementing each company's operation," said a HMM spokesperson.

HMM explains that its cooperation with 2M will enable the company to both reduce costs and strengthen its competitiveness, as well as obtain operational efficiencies through the 2M VSA network.

"For the 2M carriers, a partnership with HMM can provide major benefits such as reinforcing the alliance's service competency in Asia and improving network cover in the trans-pacific area by utilising HMM's current routes," stated HMM.

HMM says it will continue providing required services through its current alliance, G6, until March 2017.

As Ship & Bunker reported in May, following the announcement of the formation of THE Alliance, HMM issued a statement saying that it had plans to join alongside initial members Mitsui O.S.K. Lines (MOL), Nippon Yusen Kabushiki Kaisha (NYK), Kawasaki Kisen Kaisha Ltd. (K Line), Hanjin Shipping Co. (Hanjin), Hapag-Lloyd AG (Hapag-Lloyd), and Yang Ming Marine Transport Corp. (Yang Ming),

Earlier this month, Ship & Bunker reported that the South Korean government said that it will consider a merger of troubled shipping companies Hanjin Shipping Co Ltd (Hanjin) and HMM, as soon as the two companies' management has been normalised, local media reports.