HMM, Carriers to Boost Far East-South America Coverage

South Korean shipping company Hyundai Merchant Marine (HMM) revealed plans to reshuffle its cooperative agreement with a number of carriers, offering new coverage on the Far East and South America routes.

The enhanced offering would include 13 containerships, with HMM deploying one 8,000 TEU vessel which is scheduled to depart from Busan port on January 13, 2017.

Previously, HMM was in an agreement with firms including Hamburg Süd, Hapag-Lloyd, United Arab Shipping Company (UASC), CMA CGM, Nippon Yusen Kabushiki Kaisha (NYK) and Cosco.

The company said it will now reshuffle the agreement to work with Hamburg Süd, Hapag-Lloyd, UASC, NYK and Zim Integrated Shipping Services (ZIM). Under the agreement, the parties can exchange cargo capacity, HMM said.

The new coverage will include the following ports: Busan (South Korea), Qingdao, Shanghai, Ningbo, Chiwan (China), Singapore, Port Klang (Malaysia), Sepetiba, Santos, Paranagua, Itapoa (Brazil), Buenos Aires (Argentina), Montevideo (Uruguay), Rio Grande, Navegantes, Itapoa, Santos, Sepetiba (Brazil), Port Klang, Singapore, Hong Kong, Busan.

Earlier this month, HMM reached an agreement with Mediterranean Shipping Company (MSC) and Maersk Line to enter into a new strategic cooperation.

The cooperation is a combination of slot exchanges and slot purchases between the three parties, as well as Maersk Line and MSC taking over a number of charters and operations of vessels currently chartered to HMM.