Hyundai Merchant Marine confirmation of being in negotiations with Maersk and MSC in order to join to the vessel sharing agreement 2M



Today the South Korean shipowning company Hyundai Merchant Marine (HMM) has confirmed of being in negotiations with the Danish Maersk Line and the Helvetian Mediterranean Shipping Company (MSC) in order to join to vessel sharing agreement (the VSA) called 2M that the two European companies of navigation, that they are respective first and according to world-wide carrier of the field of the line transport, have agreed to half 2014 ( on 10 July 2014). With the income of the HMM the cargo ability of the fleet of portacontainer of the alliance 2M, than currently is pairs to 5,9 million teu, would go up to 6,3 million teu.

HMM has in course a plan of economic and organizational restructure of the company that in recent days has completed a step forward with the agreement reached with the owners of the ships taken rental from the South Korean company in order to obtain a reduction of the hire rates ( on 10 June 2016). But the reorganization of the HMM could also pass, as looked on to last week ( on 14 June 2016), through a fusion with the Hanjin Shipping compatriot, also it in difficulty and to the search of solutions in order to diminish the costs and in order to tackle to the engagements with the creditors.

Behind of vessel sharing agreement 2M the panorama of the commercial and operating agreements between the other companies of the field of the containerized marine transport it appears rather fluid, with orders little stable and destined to change quickly.

According to world-wide shipowning grouping of the line transport it is the alliance Ocean Three constituted in September 2014 from CMA CGM, Lowers Shipping Container Lines (CSCL) and United Arab Shipping Company (UASC) that a fleet of the ability to 2,9 million anticipates teu ( on 9 September 2014). But in the course of the months this alliance seems to have lost consistency: Chinese CSCL, in fact, has rented own fleet of portacontenitori to compatriot COSCO Container Lines (COSCON) in the within of the fusion between group leader COSCO and Lowers Shipping that has lead at the beginning of this year to the constitution of the group Lowers COSCO Shipping Corporation (COSCOCS) ( on 18 February 2016). But also the UASC does not seem to have assumed a definitive decision on the collaboration with the other companies having in course negotiations in order to join to new shipowning alliance THE Alliance.

This last one, than from April 2017 will market a fleet of the ability to 3,5 million teu, is announced last month by the companies of navigation Hanjin Shipping, Hapag-Lloyd, Kawasaki Kisen Kaisha ("K" Linens), Mitsui O.S.K. Lines (MOL), Nippon Yusen Kaisha (NYK) and Yang Ming and appears a reshuffle of two shipowning agreements about to expiration. One is the G6 alliance that sees Hapag-Lloyd, MOL and NYK placed side by side from the Orient Overseas Container Linens (OOCL), from same Hyundai Merchant Marine (HMM) and from the APL, this last one of property of the group Neptune Orient Lines (NOL) of Singapore that in recent days is passed under the control of the French CMA CGM who has in course an offer of takeover on the Asian group ( on November 23, 2015 and 10 june 2016). According to agreement it is represented by the alliance CKYHE that sees Hanjin Shipping, "K" Line and Yang Ming with Chinese COSCON and to the taiwanese Evergreen Line.

The today's announcement of Hyundai Merchant Marine questions the possible adhesion of the company to the same THE Alliance, than some representatives of the HMM they had given as probable.