HMM to Join THE Alliance
The South Korean container liner shipping company Hyundai Merchant Marine (HMM) will join THE Alliance as a full member.
Through this, the members of THE Alliance have also decided to establish a new cooperation with four members and a term until 2030. The actions were agreed in Taipei on June 19, 2019. Subject to the necessary regulatory approvals, the new contract between the four lines will start on April 1, 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 – North Europe trade and will further strengthen THE Alliance´s service portfolio.
HMM´s membership will significantly strengthen the competitiveness of THE Alliance towards the other two alliances.
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 April 1, 2017.