South Korean shipping giant Hyundai Merchant Marine (HMM) has confirmed that it will join THE Alliance as a full member on April 1, 2020.
The deal was signed on June 19 with THE Alliance founding members Hapag-Lloyd, Ocean Network Express (ONE) and Yang Ming. The contract is subject to necessary regulatory approvals.
“HMM is a great fit for THE Alliance as they will provide a number of new and modern vessels, which will help us to deliver better quality and be more efficient – and it will help us also to further reduce our emissions,” said Rolf Habben Jansen, ceo of Hapag-Lloyd.
According to HMM it has 12, 23,000 teu vessels on order that will be delivered in the second quarter of 2020; these will be deployed in the Far East – North Europe trades. Additionally, a further eight 15,000 teu newbuildings will join HMM´s fleet in the second quarter of 2021.
HMM’s slot charter agreement with the 2M container shipping alliance expires next April.