Hyundai Merchant Marine is pleased to announce that they have agreed a new strategic cooperation with Maersk and MSC. The agreement is scheduled to begin in April 2017 subject to regulatory approval (FMC etc).

Its official title is ˜2M+H Strategic Cooperation' and cooperation methods are slot exchanges and slot purchases which are similar to O3-Ocean Alliance adopted. Moreover, the ˜2M+H Strategic Cooperation' has exclusivity against other alliances, and it is binding on all parties which can file with the FMC.

It is definitely one of alliance types, as they adopt operation methods which other alliances also adopt and it has binding force for FMC filing.

This agreement is the best result putting emphasis on practical benefits when they concern their fleets, financial status, and profitability which are at a disadvantage in negotiation with 2M.

Hyundai Merchant Marine has specified that the Basic Slot Allocation (BSA) agreed with Maersk and MSC offers a participation of HMM to the new advanced Network of 20% approximately regarding that which HMM stops in the G6 alliance, than sees it placed side by side to the companies APL, Hapag-Lloyd, Mitsui O.S.K. Lines (MOL), Nippon Yusen Kaisha (NYK) and Orient Overseas Container Linens (OOCL). They have agreed to initial three-year term with 2M which is shorter than the general period of alliance contracts. This is because a long-term contract may prevent them from growing into a global carrier under limited circumstances including restriction of new vessel orders.

Especially, HMM will add more Transpacific westbound service to its competitive Transpacific trade than G6 does. (2 services → 3 services)

With this strategy cooperation agreement, HMM acquires a wide range of services and stability improvement of profitability through 2M network and fuel-efficient vessels

They will fulfil nation's expectations with competitiveness enhancement, as they iron out the uncertainty through negotiated settlement.