Tuesday, July 2, 2019

Another Container Shipping Line Holds Hands with the Opposition

Three Become Four as Box Carrier Signs up to THE Alliance
Shipping News Feature
SOUTH KOREA – WORLDWIDE – Members of the THE Alliance, Ocean Network Express (ONE), Hapag-Lloyd, and Yang Ming have announced a fourth member, South Korean container shipping company Hyundai Merchant Marine (HMM), to join the THE Alliance as a full member, from April 1, 2020, subject to necessary regulatory approvals. Through this, the members of the THE Alliance have also decided to establish new cooperation details with four members and a term until 2030.

HMM has ordered twelve 23,000 TEU vessels which will be delivered in the second quarter of 2020. Additionally, eight 15,000 TEU new builds will join HMM´s fleet in the second quarter of 2021. HMM´s new vessels will be deployed in the Far East – North Europe trade and will look to further strengthen the THE Alliance´s service portfolio. Rolf Habben Jansen, CEO of Hapag-Lloyd, commented:

“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 claims that its membership in the alliance will significantly strengthen the competitiveness of THE Alliance towards the other two major alliances. Jae-hoon Bae, President and CEO of HMM, said:

“Being a full member of THE Alliance gives us a lot of pride. We are convinced that we will be successful and generate additional value for our customers, employees and shareholders with combined experience, strategic skills, competitive fleet and strong focus on our clients’ needs.”

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 started its cooperation on April 1, 2017.

Photo: From left to right : Bronson Hsieh (Chairman and CEO of Yang Ming), Jae-hoon Bae (President and CEO of HMM), Seong-hyeok Moon (Minister of Oceans & Fisheries), Rolf Habben Jansen (CEO of Hapag-Lloyd), Jeremy Nixon (CEO of Ocean Network Express).