THE Alliance Announced Hyundai Merchant Marine As Its Fourth Member

THE Alliance Announced Hyundai Merchant Marine As Its Fourth Member

THE Alliance Announced Hyundai Merchant Marine As Its Fourth Member

Members of THE Alliance, Ocean Network Express (ONE), Hapag-Lloyd, and Yang Ming announced a fourth member, Hyundai Merchant Marine (HMM), which is a South Korean container liner shipping company to join THE Alliance as a full member. The members of THE Alliance have also decided to establish new cooperation with four members and a term until 2030 through this. On June 19, 2019 the actions were agreed in Taipei. The new contract between the four lines will start on 1 April 2020 with subject to the necessary regulatory approvals.

HMM has ordered twelve 23,000 TEU vessels which is expected to be delivered in the second quarter of 2020. Also,  in the second quarter of 2021, eight 15,000 TEU new buildings will join HMM´s fleet. HMM´s 23,000 TEU new buildings will be deployed in the Far East-North Europe trade and will further strengthen THE Alliance´s service portfolio

“We are very happy to see HMM join THE Alliance, as their membership will allow us to offer enhanced services to our customers due to a wider port coverage, expansion of our product offerings, more sailing frequencies and a better balance of our cargo flows,” commented Jeremy Nixon, CEO of Ocean Network Express.

Jae-hoon Bae, President, and CEO of HMM: “Being a full member of THE Alliance gives us a lot of pride. We are convinced that we will be successful and generate additional value for our customers, employees and shareholders with combined experience, strategic skills, competitive fleet and a strong focus on our clients´ needs.”

Hapag-Lloyd, together with Kawasaki Kisen Kaisha (“K” LINE), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK) (the three companies merged their liner services to become Ocean Network Express – ONE) and Yang Ming founded THE Alliance. On 1 April 2017, it started its cooperation.

Reference: one-line.com

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