South Korean owner Hyundai Merchant Marine (HMM) is leaving its partnership with Maersk Line and Mediterranean Shipping Co (MSC) to join rival boxship grouping THE Alliance.
It will be the fourth member after founders Hapag-Lloyd, the NYK, K Line and MOL joint venture Ocean Network Express (ONE), and Taiwan's Yang Ming Marine Transportation.
The group has also decided to renew its cooperation, extending the partnership for another 10 years to 2030.
