HMM becomes a member of THE Alliance
Hyundai Merchant Marine (HMM) will be the fourth member, besides Hapag-Lloyd, Ocean Network Express (ONE) and Yang Ming, to join THE Alliance. The members of THE Alliance have also decided to establish a new cooperation with four members and a term until 2030. The actions were agreed in Taipei on 19 June 2019. The new contract between the four lines will begin on 1 April 2020.
Hyundai Merchant Marine (HMM) will be the fourth member, besides Hapag-Lloyd, Ocean Network Express (ONE) and Yang Ming, to join THE Alliance. The members of THE Alliance have also decided to establish a new cooperation with four members and a term until 2030. The actions were agreed in Taipei on 19 June 2019. The new contract between the four lines will begin on 1 April 2020.
Commenting on the new addition, Rolf Habben Jansen, CEO of Hapag-Lloyd, said that:
"HMM is a great fit for THE Alliance as they will provide a number of new and modern vessels, which will help us to deliver better quality and be more efficient – and it will help us also to further reduce our emissions"
HMM has ordered twelve 23,000 TEU vessels which will be delivered in the second quarter of 2020. What is more, eight 15,000 TEU newbuildings will join HMM's fleet in the second quarter of 2021. HMM's 23,000 TEU newbuildings will operate in the Far East - North Europe trade and will enhance THE Alliance's service portfolio.
"HMM joining THE Alliance is an important milestone for THE Alliance as it will help us to provide a broader service network to the customers and facilitate the advance of the development of THE Alliance starting from next year"
highlighted Bronson Hsieh, Chairman and CEO of Yang Ming.
As for Jae-hoon Bae, President and CEO of HMM, he noted that being a full member of THE Alliance gives the company a lot of pride. Now, they are convinced that they will be successful and generate additional value.
THE Alliance was founded by Hapag-Lloyd as well as NYK, MOL and 'K'Line (which merged to become Ocean Network Express – ONE) and Yang Ming. It began its cooperation on 1 April 2017.
