HMM gets ready for new existence in THE alliance

Home > Business > Industry

print dictionary print

HMM gets ready for new existence in THE alliance

Hyundai Merchant Marine (HMM) on Thursday described new services it will offer as part of a major international shipping alliance.

Last year, HMM was invited to join THE Alliance, and recently won approval from the U.S. Federal Maritime Commission. It will accordingly start offering services with other members in April after getting approvals from other countries, which will “likely go smoothly following the approval from the United States,” according to a spokesperson for HMM.

THE Alliance is one of the world’s largest groups of shipping companies, along with 2M Alliance and Ocean Alliance. Hapag-Lloyd from Germany, ONE from Japan and Yang Ming from Taiwan are its members.

HMM will offer services on 27 of the 33 routes run by THE Alliance. It will put into operation a total of 280 “high efficiency container ships” to cover the routes.

The shipping alliance will call at 78 ports worldwide, including Asia, Europe, the Mediterranean and the Middle East.

THE Alliance in particular plans to increase operations in Southeast Asian countries.

HMM will stay in THE Alliance for 10 years starting this year.

HMM has been a strategic partner of the 2M Alliance, which is operated by Maersk Line of Denmark and Mediterranean Shipping of Switzerland, since 2017. That partnership is scheduled to expire in late March.

“We could have extended the deal with 2M Alliance, but we were offered a better deal [by THE Alliance],” said the spokesperson.

The company said it plans to diversify its routes through THE Alliance. It will be able to actively respond to market changes as a member of THE Alliance, according to HMM.

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)