– 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 we 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 we concern our 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).

We 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 us 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

□ We will fulfil nation’s expectations with competitiveness enhancement, as we iron out the uncertainty through negotiated settlement.

Source: hmm21
2016-12-13

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