Hyundai Merchant Marine (HMM) is expected to join the recently formed container shipping alliance – THE Alliance – to take advantage of its network that offers frequent sailings, high reliability and attractive transit times for all shippers in the East-West trade lanes.
THE Alliance was a group originally established by six shipping lines that included MOL, NYK Line and Hapag-Lloyd. The aim of forming The Alliance was to build a leading network in the container shipping industry. Through joining, HMM hopes that this will enable it to gain access to THE Alliance’s large product portfolio in Asia-Europe / Mediterranean, Asia-North America West Coast, Asia-North America East Coast, Transatlantic and Asia-Middle East / Persian Gulf / Red Sea.
Following a debt-rescheduling deal with its bondholders, HMM’s application to THE Alliance has been supported and is expected to enter soon. Since membership in global shipping alliances is a necessity for major shippers in global marketing, HMM has focused on negotiating with THE Alliance regarding its prospective membership. THE Alliance will help HMM once it regains its financial health.
HMM had been a member of the G6 shipping alliance, but wasn’t included when the G6 formed THE Alliance, due to its poor financial status.
Ship Efficiency Review News
To contact the reporter responsible for this article, please email editor@fathom-mi.com
