Expansion of 2M caps another extraordinary month for box trades

摘要

Hyundai Merchant Marine confirmed in mid-July that it would be joining the 2M alliance of Maersk and Mediterranean Shipping Co next year, capping yet another extraordinary few weeks for the container shipping. The three lines had revealed a month earlier that they were in talks. Yet until then, it looked as if HMM could be the casualty of the biggest shake-up the box trades have ever seen as the line struggled to restructure its debts. As that process came to a conclusion, HMM had signaled that it expected to join The Alliance, alongside Hanjin Shipping, Hapag-Lloyd, the three Japanese lines and Yang Ming. While the proposed expansion of 2M caught most off-guard, the move should benefit all three carriers.