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Hyundai Merchant forms consortium with foreign partners

2018/02/09 16:23

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SEOUL, Feb. 9 (Yonhap) -- Hyundai Merchant Marine Co. (HMM), South Korea's top shipping firm, said Friday that it has formed a consortium with three foreign partners for services linking Asia to the West Coast of Latin America.

The consortium will launch three routes that connect Asia to South America in early April, according to HMM.

Major ports on the routes include Busan, Hong Kong and Lazaro Cardenas, Mexico's biggest port, and San Antonio, a port in Chile.

The three other participants in the consortium are Switzerland-based Mediterranean Shipping Company, Germany-based Hapag-Lloyd and Japan's Ocean Network Express.

Hapag-Lloyd said it had reached an agreement with its partners to restructure its Asia to West Coast of South America services effective April 1, 2018.

"The new service offerings will enhance our coverage and provide fast transit times between the major ports in Asia and the West Coast ports of Mexico, Central America and South America," Hapag-Lloyd said in a comment posted on its website.

Mediterranean Shipping Company also said on its website that it "is pleased to announce a new vessel sharing agreement, effective on Far East-South America West Coast services."