Hyundai Merchant Marine established intra-Asian alliance with two other Korean operators – Sinokor Merchant Marine and Heung-A Shipping. The alliance, called HMM + K2, will come into force in March. The three shipping lines agreed on joint use of vessels, container handling equipment, storage facilities. The new agreement comes after previously agreed cooperation between the three operators in the opening of new international services. The agreement will provide better flexibility and improve the presence of the companies on intra-Asian container shipping market, as well as reduce of costs per operations against the depreciating freight rates,
Sinokor Merchant Marine specializes in transportation between South Korea and China, while Heung-A Shipping has a stable operating line service to Japan.
Hyundai Merchant Marine for a long time was negotiating to join the 2M Alliance with Maersk and MSC alliance. Finally, the two of the largest container operators in the world denied the Korean carrier at full membership, however, gave it access to its network.
Hyundai Merchant Marine is a South Korean integrated logistics and containerized freight transport company, with more than 50 sea routes, over 100 ports of call and operating about 138 vessels. The company provides worldwide global service networks, diverse logistics facilities, leading IT shipping related systems, a professional highly trained staff, and continual effort to provide premiere transportation services.