Port Report: THE Alliance brings in Korea’s Hyundai Marine as member

Troubled Korean liner operator has been seeking a lifeline amid ongoing losses.

Troubled Korean liner operator has been seeking a lifeline amid ongoing losses.

Hyundai Merchant Marine (HMM) will join THE Alliance as a full member. The move comes after an apparent rebuff of the money-losing Korean liner company’s efforts to strike a similar deal with the 2M Alliance.

THE Alliance, which is also comprised of Germany’s Hapag-Lloyd (FSE: HLAG), Japan’s Ocean Network Express, and Taiwan’s Yang Ming, said it established “a new cooperation” with its now four members lasting through 2030.