In a bid to obtain the largest market share on the Far East-Middle East trade, Hyundai Merchant Marine (HMM) will be enhancing its service offering by taking advantage of the recent sanction lift in Iran, as well as adding a new service, according to JOC.com.
Sanctions were lifted in Iran after a nuclear deal was struck at the beginning of 2016.
PTI previously reported that HMM could be joining up with 2M in order to handle market volatility and lower its debt levels.
This would be in addition to a potential pairing up with Zim Integrated Shipping Services, who were recently announced as being the fourth potential alliance partner to join Maersk Line and MSC.
Maersk believe that the inclusion of HMM would allow it to be more competitive along the trans-Pacific trade.
One of the possible hypotheses for a 2M-HMM pair up to form the ‘H2M’ alliance was to allow HMM to secure favourable shipbuilding contracts and bank loans.
However, at this stage, another likely hypotheses is that the deal may not benefit all lines concerned since the discussions are preliminary.
HMM was also previously announced as the first carrier globally to accept container weights that have been provided by terminals at US ports.