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09 December 2018 The on-line newspaper devoted to the world of transports 22:22 GMT+1



December 4, 2018

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Original news
In the 2020 HMM it could abandon the collaboration with the 2M in order to join to another shipowning consortium

In that year the South Korean company will begin to take in delivery the 20 new portacontainer of large-capacity

At the beginning of the spring of the 2020 company of South Korean navigation Hyundai Merchant Marine (HMM) the collaboration with the first two world-wide companies of the segment of the containerized marine transport could stop in order to join to another shipowning consortium. It supports the daily paper "BusinessKorea" of Seul remembering that to March 2020 the which signed agreement of cooperation of 2016 from the HMM with the shipowning alliance expires at the end 2M, that is constituted by the Maersk Line and the Mediterranean Shipping Company (MSC) that they are exactly respective first and according to world-wide containerized marine carrier for cargo ability of the fleet(on 12 December 2016).

In reality already two years ago the subscription of the understanding, limited to the exchange and purchase of cargo spaces on the ships of the three companies, seemed to behind represent a step regarding that which previously it was looked on to as an inclusion rightfully of the HMM in the 2M, adhesion that was subordinated to an appraisal of the financial statement of the South Korean society and its liquidity(on 14 July 2016).

According to "BusinessKorea", the agreement which signed from the South Korean company with Maersk and MSC is disadvantageous for the HMM as the company is part not of the alliance and, moreover, the role of the HMM in this collaboration is diminished when this summer the two partner of the 2M has signed an agreement of cooperation with the company of Israeli navigation ZIM(on 19 July 2018).

For the daily paper, the agreement of the HMM with Maersk and MSC penalize the South Korean company also because, to the action of the agreement, the two partner of the 2M has sped up the HMM to limit the orders for the construction of new ships and Maersk and MSC have protested energetically when Hyundai Merchant Marine has announced the intention to commission 20 new portacontainer of large-capacity, purpose that then is put into effect by the company(on 10 April and 28 september 2018). "The 2M - it has said an exponent of the South Korean shipowning industry to "BusinessKorea" - the expansion of the fleet of the HMM is hindering even if the Korean carrier has urgent necessity to restore own competitiveness".

However past thursday the same HMM has confirmed that the plan of increase of the company is hinged own on the 20 new mega portacontainer, of which 12 from 23.000 teu and eight from 15.000 teu, than the company it will just beginning from take in delivery 2020.

The daily paper has specified that, according to analysts, the HMM could join to the consortium Ocean Alliance, that is constituted by the French company CMA CGM, that Chinese COSCO and the taiwanese Evergreen. From part its HMM has evidenced that the new great ships, through the performance of economies of scale, will allow to diminish the fixed costs drastically and is previewed an improvement of the efficiency of the consumption let alone a moderated decrease of the cost of the fuel. A combination of factors that - according to HMM - will allow with the company "to attract customers, partner and investor".

Remembering the remarkable increase of the activity and the results achieved from the company during the last few years, with a transported containerized cargo volume from the ships that are increased of +30% passing from three million teu in 2016 to four million in 2017 and this without a potenziamento of the fleet (but benefitting - this HMM does not say it - of the effects of the failure of the Hanjin Shipping compatriot made official at the beginning last year,on 17 February 2017), Hyundai Merchant Marine, specifying that in 2018 it is attended a transported total pairs to 4,5 million teu, has evidenced that the company work in the field of the container gives beyond 30 years and that considers of being able to cover a market share pairs to 7% of the marine containerized traffics between east and the west within 2021. "Therefore - it has emphasized the company of Seul - we consider that the fears that HMM can have difficulty in filling up the mega one portacontainer not are justified".

HMM has reassured also the market about the solidity financial institution of the company, having remembered that last October 900 million dollars) through the emission of obligations are carried to term the increase of capital of thousand billions of won (, that the financial parameters are improved and that is attended also a not easy improvement in the short term of the operating result.

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