Hyundai Merchant Marine officially signed a deal with the world’s largest shipping alliance, a move that is expected to grant the company more vessel capacity on its service routes and a way to improve its financial health, the company said Thursday.
HMM CEO Yoo Chang-keun and heads of the 2M alliance, Soren Skou of Danish Maersk Line and Diego Aponte of Switzerland-based Mediterranean Shipping Company, agreed to establish the so-called 2M+HMM strategic cooperation in California on Wednesday.
The partnership is due to take effect on April 1 and last three years with an option to extend the terms.