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Maersk Line and MSC sign cooperation deal with Hyundai

[ December 11, 2016   //   ]

Maersk Line, Mediterranean Shipping Company (MSC) have signed a strategic cooperation deal with Korea’s Hyundai Merchant Marine (HMM.

The agreement is a combination of slot exchanges and slot purchases between the three parties, while Maersk Line and MSC will takeg over a number of charters and operations of vessels currently chartered to HMM.

Maersk Line said the deal was outside the scope of MSC and Maersk Line’s 2M vessel sharing agreement, but would give HMM access to the 2M network. For Maersk Line the cooperation will provide new opportunities, not least in the Transpacific trade where 2M gets access to strong HMM products.

Maersk earlier announced a deal to buy Germany’s Hamburg Sud and integrate it into the 2M network.

The agreement is scheduled to begin in April 2017 subject to regulatory approval, initially for three years with option to extend and covers key East-West trades. More information on network changes and schedules will be published in early 2017.

Maersk Line chief operating officer, Søren Toft, said the deal with HMM “will enable us to enhance our 2M network and presence in the important Transpacific trade. We look forward to leveraging these new opportunities to the benefit of our customers.”

 

 

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