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Media: 2M puts severe pressure on Hyundai Merchant

South Korean Hyundai Merchant Marine's negotiations concerning the carrier's possible participation in the 2M alliance with Maersk Line and MSC have, according to a Korean news outlet, been fraught with problems. A meeting in Copenhagen on Tuesday could prove decisive.

Photo: PR-foto/Hyundai Merchant Marine

2M partners Maersk Line and MSC have, according to South Korean news outlet Business Korea, been pushing the terms and conditions to the limit in the talks concerning Hyundai Merchant Marine's (HMM) potential participation in the major container alliance.

A collaboration with Maersk Line and MSC is more or less crucial for HMM as the carrier's participation in one of the large-scale container alliances was one of the key requirements when the South Korean government and other creditors this summer agreed to provide a financial rescue package to the carrier, whereas Hanjin Shipping was left to fend for itself and subsequently entered court receivership.

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