World News
Rumours Swirl on HMM Acquisition by Maersk Line
Following news that Hyundai Merchant Marine (HMM) intends to join the 2M Alliance, rumours have begun to swirl of a possible acquisition of HMM by Maersk Line.
A report by IHS notes that neither company has so far officially commented on the possibility of such a deal, but in an interview last week with Reuters, Maersk Line management board member Jakob Stausholm suggested such a move might be in the cards.
"We are defending our leadership position. If we are strong, there is no reason for us not to grow," he said.
"If the right opportunity is there we will look into it.
"If you look at the history of Maersk Line, we have achieved our leadership position by combination of organic growth and acquisitions."
As Ship & Bunker reported last week, HMM says it has embarked on negotiations to join the 2M Alliance - currently consisting of Maersk Line and Mediterranean Shipping Company S.A. (MSC) - seemingly contradicting earlier statements that it was aiming to join THE Alliance.
A spokesperson from HMM is reported to have since confirmed that HMM is still in talks to join THE Alliance, while it is also exploring its options with 2M.
Last week, A.P. Møller - Mærsk A/S (Maersk Group) announced that Søren Skou is set to replace Nils S. Andersen the group's CEO, and that the company is investigating further strategic and structural changes.
The news has also sparked speculation that Maersk Group may break up its group of companies as they currently stand, Lloyd's List reports.
Maersk Group chairman, Michael Pram Rasmussen, is said to have confirmed that there "could potentially be major changes" within the group.
Earlier this month, it was reported that the South Korean government said it would consider a merger of two of the countries' largest shipping companies, HMM and Hanjin Shipping Co Ltd (Hanjin) as soon as the two companies' management has been normalised.
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