False Report
Hyundai Merchant Marine (HMM), the nation's only major shipping line, on November 20 denied a foreign news report that it failed to join the 2M Alliance, the world’s largest alliance for shipping companies.
The Journal of Commerce (JOC), a U.S. shipping and marine magazine, reported on the 18th (local time), “The 2M – Maersk Line and Mediterranean Shipping Co. – have decided not to include HMM in the alliance. Instead, Maersk Line and Mediterranean Shipping will collaborate with HMM through a slot purchase agreement which would allow Maersk to take over Hyundai’s chartered vessels and slots.”
HMM, however, denied the report, saying that it turned out to be clearly false. The Korean shipping company said, “Maersk had confirmed the news report was not true and pledged to request a correction from the JOC.”
It also added, “The company is still in negotiations over details of various types of cooperation in each region from the Americas and Europe to Latin America. After completing talks over the membership process with the 2M Alliance, the official membership contract will likely be wrapped up no later than early next month.”