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HMM in talks to join 2M alliance

HMM in talks to join 2M alliance
Financially-strapped Hyundai Merchant Marine (HMM) says it is in talks to join the 2M alliance with Maersk Line and MSC.

The surprise announcement was made on Thursday by the South Korean container line, which is implementing restructuring measures imposed by its creditors including that it join a global container shipping alliance.

“We have been in talks with 2M and in negotiations,” HMM said.

The South Korean line had been expected to join the currently six line grouping The Alliance which is due to start operations in April 2017.

The Alliance comprising - Hanjin Shipping, Hapag Lloyd, K Line, MOL, NYK and Yang Ming – was announced following the move to establish the Ocean Alliance by CMA CGM, Coscon, Evergreen and OOCL, effectively splitting the existing CYKHE and the G6 alliances.

HMM was initially left out in the cold, but said in mid-May it was “certain” to join The Alliance.