Hyundai Merchant Marine (HMM) has made a strategic cooperation agreement with Maersk Line and MSC, the two members of the 2M alliance, although the leading Korean carrier has failed to become a fully-fledged member.
Earlier this year, HMM’s creditors requested the company’s entry into an alliance agreement as a condition for restructuring its debt.
The cooperation is a combination of slot exchanges and slot purchases between the three parties, as well as Maersk Line and MSC taking over a number of charters and operations of vessels currently chartered to HMM.
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