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HMM starts sailing under THE Alliance partnership

06/04/2020

SOUTH Korean flagship under its new name HMM, instead of Hyundai Merchant Marine, officially joined THE Alliance on April 1, partnering Hapag-Lloyd, Ocean Network Express (ONE) and Yang Ming in the grouping that operates combined services on the main east-west trades.

Having skirted with bankruptcy four years ago, HMM was shunned from becoming a full member of any of the new three main alliances for a period of time, instead hooking up with Maersk and MSC in a vessel sharing agreement that came to a close at the end of March.

President and CEO of HMM, Jae Hoon Bae, said: "HMM will continue to expand its business coverage and develop more capabilities to successfully serve our valued customers."

HMM is in the midst of taking a series of giant 23,000 TEU newbuilds that will see it surpass new alliance partner Yang Ming into seventh spot in the global liner rankings, reports Singapore's Splash 247.

Source : shippingazette.com