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Maersk Line, Mediterranean Shipping Company (MSC) and Hyundai Merchant Marine (HMM) have enter into a new strategic cooperation that 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.
Although the cooperation is outside the scope of MSC and Maersk Line’s 2M vessel sharing agreement, it will provide HMM access to the 2M network. The strategic cooperation will enable the company “to enhance our 2M network and presence in the important Transpacific trade,” Søren Toft, Chief Operating Officer, Maersk Line said. The agreement is scheduled to begin in April 2017 subject to regulatory approval. The initial term of the cooperation is three years with option to extend and covers key East-West trades.
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