Named HMM+K2, the new partnership will be launched in March and its service network will cover Japan, China and Southeast/Southwest Asia.
Yoo Chang-keun, ceo of HMM, believed that the company will be able to raise its competitveness as HMM will have access to Heung-A and Sinokor’s intra-Asia network in Korea-Japan and Korea-China trades.
Yoo added that the consortium will result in cost savings and improvement in customer services for all three parties.
The new HMM+K2 consortium includes vessel sharing, slot exchange and slot purchase, and it plans to develop deeper cooperation levels to include joint investment in port infrastructure and sharing of container equipment over the medium to long term.
The latest partnership for HMM followed the company’s slot exchanges agreement with the 2M alliance of Maersk Line and Mediterranean Shipping Company (MSC).
The slot exchanges agreement for HMM fell short of a full membership into 2M, which is scheduled to start from April 2017 pending regulatory approval.
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