Last month Hyundai Merchant Marine (HMM) announced that it has commenced a discussion for joining the 2M VSA formed by Maersk Line and Mediterranean Shipping Co.(MSC). A spokesperson from HMM said, “The 2M carriers and HMM are ideal partners as we can work together in order to create a great synergy for the alliance by supplementing each company’s operation.”

And finally, since today Korea's Hyundai Merchant Marine (HMM) has succeeded in joining the world's largest container liner alliance '2M'. 

Korea Development Bank, the main creditor bank of HMM, said on Thursday that an MOU has been signed with the alliance of 2M. The reportedly binding MOU is likely to lead to the trio container shipping companies commencing joint liner service from April next year, if the following detailed negotiations and related approval procedures go smoothly.

With the apparent success in participating in the largest global shipping alliance, HMM has met all the requirements to finalize its ongoing financial restructuring.

Early next month, the company is to welcome new CEO and will be able to utilize the $1.2bn ship fund, to be formed by Korean government, to order fuel-efficient mega newbuildings.

The 2M is a leading shipping alliance comprised of the world’s 1st and 2nd container carriers. A potential cooperation with 2M will allow for HMM to reduce costs, strengthen its service competitiveness and achieve operational efficiencies together with the 2M VSA network. For the 2M carriers, a partnership with HMM can provide major benefits such as reinforcing the alliance’s service competency in Asia and improving network cover in the trans-pacific area by utilising HMM’s current routes.

As the current member of G6, HMM will continue providing required services without interruption until March 2017, the company added.

Source : HMM Website (http://hmm.co.kr/cms/company/engn/introduce/prcenter/news/1200908_7540.jsp)