South Korean shipping giant Hyundai Merchant Marine (HMM) has confirmed that it will join THE Alliance as a full member on April 1, 2020.

From left to right: Jae-hoon Bae, president and ceo of HMM; Rolf Habben Jansen, ceo of Hapag-Lloyd; Jeremy Nixon, ceo of Ocean Network Express; Bronson Hsieh, chairman and ceo of Yang Ming.

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.