Hyundai Denies 2M Partnership Failure

Hyundai Merchant Marine (HMM) has denied reports that it failed to join the global shipping alliance 2M that the company has sought for months as part of its normalization plan.

News ID: 70465

Date: 22 November 2016 - 09:31

According to MANA, According to Yonhap, "We are still in negotiations (with 2M) to iron out differences," said an official at Hyundai Merchant. "Our plan to complete the partnership talks by this month has not changed."
Since May, Hyundai Merchant has been seeking to become a member of 2M, the world's largest shipping alliance, one of the prerequisites set by its creditors to avert court receivership, says Korea Herald.
In July, Hyundai said it had signed a memorandum of understanding with the 2M Alliance for joint operation and that it had completed all the conditions that the alliance requested.