Hyundai Sharing Slots

Hyundai Merchant Marine (HMM) has agreed a three-year slot purchase and exchange deal with the 2M alliance, but was not granted full membership. The alliance agreement, more recently referred to as the ‘2M + H” cooperation will also see Maersk Line and MSC take over the operation of a number of the South Korean carrier’s fleet.

Maersk Line confirmed that the agreement would provide HMM access to the 2M network, but it will still need regulatory approval before the new alliance structure launches on 1 April.

“We are pleased to enter this strategic cooperation with HMM, Korea’s leading container carrier,” said Soren Toft, chief operating officer of Maersk Line. “It will enable us to enhance our 2M network and presence”

After being excluded from THE Alliance grouping announced in May, HMM signed an MoU on 14 July with Maersk and MSC to join the 2M when its membership of the G6 alliance expires. However, the bankruptcy of compatriot Hanjin Shipping may have weakened HMM’s negotiating stance.

 

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