Robert.Jervis_43227 Jul 07

HMM to join THE Alliance

HMM to join THE Alliance image

April 2020 start date target

Hyundai Merchant Marine (HMM) has announced that it will join THE Alliance as a full member. The members of THE Alliance including Yang Ming, Hapag-Lloyd and Ocean Network Express have decided to establish a new cooperation to include these four members until 2030. Subject to the necessary regulatory approvals, the new contract between the four lines will start in April 2020.

HMM has ordered twelve 23,000 TEU vessels which will be delivered in the second quarter of 2020. Additionally, eight 15,000 TEU newbuildings will join HMM´s fleet in the second quarter of 2021. HMM´s 23,000 TEU newbuildings will be deployed in the Far East.

Yang Ming stated that HMM´s membership will significantly strengthen the competitiveness of THE Alliance against the other two alliances. Alongside its expanding fleet, HMM’s North Europe trade will further strengthen THE Alliance´s service portfolio.

“HMM joining THE Alliance is an important milestone for THE Alliance as it will help us to provide a broader service network to the customers and facilitate the advance of the development of THE Alliance starting from next year,” added Bronson Hsieh, Chairman and CEO of Yang Ming.

THE Alliance was founded by Hapag-Lloyd as well as NYK, MOL and “K”Line, which merged to become Ocean Network Express (ONE) and Yang Ming. It started its cooperation on 1 April 2017.

Source: Ti

https://www.ti-insight.com/hmm-to-join-the-alliance/