HMM in cooperation agreement with Maersk and MSC, no 2M membership

In a statement on Sunday Maersk said that the Danish line, MSC and HMM had entered into strategic cooperation which included combination of slot exchanges and slot purchases between the three parties. Maersk and MSC will also takeover a number of charters and vessel operations by HMM. Such an arrangement would provide a degree of protection for 2M customers on these vessels, were a similar scenario to the Hanjin Shipping bankruptcy on 31 August, which left shippers with $14bn worth of cargo stranded across the globe.

HMM narrowly avoided receivership in June this year and alliance membership was a condition of its restructuring.

Maersk said that the cooperation was outside of the scope of 2M but provided it with access to its network.

We are pleased to enter into this strategic cooperation with Hyundai Merchant Marine, Korea’s leading container carrier. It 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,” said Søren Toft, coo of Maersk Line.

The cooperation agreement covers key east-west trades for three years from April 2017 pending regulatory approval.

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