Archives



Feature, Freight News, Sea


You are THE ONE for us, fellow lines tell Hyundai

[ July 2, 2019   //   ]

Container shipping company Hyundai Merchant Marine (HMM) – a line once threatened with bankruptcy in a crisis that led to the demise of fellow South Korean operator Hanjin – is to join THE Alliance as a full member. THE Alliance was founded in April 2017 by Hapag-Lloyd, Yang Ming and Japanese operators NYK, MOL and K Line; the latter three later merged to become Ocean Network Express – ONE.

Subject to the necessary regulatory approvals, the new contract between the four lines will start on 1 April 2020.

Hapag-Lloyd chief executive Rolf Habben Jansen described HMM as “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.”

HMM has ordered twelve 23,000teu vessels which will be delivered in the second quarter of 2020 for the Europe-Far East trade, along with eight 15,000teu newbuildings in the second quarter of 2021.

ONE chief executive Jeremy Nixon commented that HMM would allow THE to offer a wider port coverage, more sailings and a better balance of cargo flows.

 

 

 

 

Left to right: Jae-hoon Bae (president and chief exectutive of HMM), Rolf Habben Jansen (chief executive of Hapag-Lloyd), Jeremy Nixon (chief executive of Ocean Network Express), Bronson Hsieh (chairman and chief exective of Yang Ming)

Tags: ,