[vc_row]With the aim of making it more competitive against the large carriers Hyundai Merchant Marine (HMM) recently held a ceremony for the formal contract signing to form ‘HMM+K2’ consortium, in the presence of about 30 persons connected with the consortium, including Mr Yoo Chang-Keun (CEO of HMM), Mr Jung Tae-Soon (CEO and Director of Sinokor Merchant Marine) and Mr Lee Hwan-Goo (Director, Vice-President and Head-Sales of Heung-A Shipping).
The consortium’s first slot exchange was carried out on March 1, 2017.
With this cooperation, HMM secures additional intra-Asia networks, including Korea-Vietnam/Thailand, Korea-Japan, etc., which will make it more competitive against the large carriers. Also, Sinokor and Heung-A have a chance to expand their networks with stable slots and cost competitiveness by using HMM’s intra-Asia and India services.
The consortium’s second cooperation level will include joint operation, opening new routes, transporting empty containers, sharing equipment and streamlining terminal operation.
The final stage, the third cooperation level, will include joint investment in port infrastructure.[/vc_column_text][/vc_row]
