THE Alliance Back HMM’s Entry


The other carriers that form THE Alliance, which is the most recent alliance tie-up between Hapag Lloyd and a number of Asian shipping lines, have reportedly given their support for Hyundai Merchant Marine (HMM) to join the alliance, according

This follows news that the Korean government would allow HMM and Hanjin Shipping to pair up if both carriers could normalise their management structures.

HMM has also been able to secure lower charter rates from ship-owners, which would improve its financial situation and allow it to order mega-ships.

The Korea Development Bank (KDB) said: “KDB will take all necessary measures to make HMM a competitive global shipping company through reshuffling its organisation structure and inviting outside experts to consult on restructuring the fleet by ordering highly efficient mega-container ships to boost HMM’s mid-term competitiveness.”

Hanjin Shipping could also be set for a recovery after it was announced that its finances had climbed by more than 6% in the week to June 7, 2016.

HMM’s finances also bounced back up by 2.4%, which could mark the beginning of recovery for both lines and help them to compete in a turbulent market.

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.

Supplier Directory

Be listed with industry leaders operating within Ports and Terminals

Webinar Series

Join 500+ attendees on average with a Port Technology International webinar

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.