HMM to join The Alliance

South Korea’s largest container carrier, Hyundai Merchant Marine (HMM), will join The Alliance, a group of maritime operators including Hapag-Lloyd, Ocean Network Express (ONE), and Yang Ming, as a full member.

In addition, The Alliance members also decided to renew their cooperation and extend the partnership for another ten years, until 2030.

The corresponding documents were signed in Taipei, Taiwan, on June 19, 2019. Subject to the required regulatory approvals, the new agreement between the four lines will officially begin on April 1, 2020.

“HMM is an excellent choice for The Alliance as it will provide a number of new and modern vessels that will help us deliver better quality and more efficiency – and help us further reduce our emissions,” said Rolf Habben Jansen, Hapag-Lloyd’s CEO.

HMM recently commissioned twelve vessels of 23,000 TEUs to be delivered in the second quarter of 2020. In addition, eight new vessels with a capacity of 15,000 TEU will join the HMM fleet in the second quarter of 2021.

The new HMM 23,000 TEU vessels will be deployed in the Far East – Northern Europe trade and further strengthen The Alliance’s portfolio of services.

“Being a full member of The Alliance gives us great 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 customers’ needs,” said Jae-hoon Bae, HMM President, and CEO.

HMM holds 1.8% of the world’s fleet capacity and is responsible for 25% of the volume transported by sea to South Korea. Its share in the Brazilian flow is 0.5%.

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