Hyundai Merchant Marine set to join 2M this month

Korean line Hyundai Merchant Marine (HMM) is set to join the Maersk and MSC in the 2M alliance according to a Korean government official, who says reports of trouble in negotiations are wide of the mark.

“Consultations on ways for specific cooperation are under way” between Hyundai and 2M with plans to announce a “final agreement before long,” Yim Jong-yong, chairman of the Financial Services Commission told a press briefing according to Yonhap News.

Yim said negotiations are likely to be completed by December 10.

2M had signed a surprise MoU with HMM in July on joining the alliance, after the Korean line had been spurned from joining THE Alliance, a new container grouping made up of lines from Japan, Taiwan and Germany.

HMM has since had to consistently deny reports that talks had failed and it would not be given entry to 2M.
The statement from Yim is consistent with information provided by HMM last week. A spokesperson said the line is still in negotiations over details of the membership process. “The official membership contract will likely be wrapped up no later than early next month,” the HMM official claimed.

Source: Splash 24/7 (LF)

Source: Splash 24/7