GCTL8.com (FocusAsia Media Ltd)

COPENHAGEN, Dec 13 (FAM) – Maersk and Hyundai Merchant Marine Line (HMM) have announced “a new strategic cooperation” between the two lines and Maersk’s partner in the 2M network, Mediterranean Shipping Company (MSC).

The deal laid to rest repeated forecasts that Maersk would end up buying the financially troubled South Korean line. Instead it was relayed that HMM would co-operate with the 2M lines via a combination of slot exchanges and slot purchases. Maersk Line and MSC will also take over a number of charters and operations of vessels currently chartered to HMM.