HMM, Maersk-Sealand Establish Better Service in the North Atlantic.

Hyundai Merchant Marine (HMM) and Maersk-Sealand, which is the largest
shipping company in the world and is based in Denmark, joined to stre
ngthen Atlantic service between the east coast of North America and Eu
rope. The New World Alliance Group, which includes HMM in South Korea,
American President Lines (APL) in the United States, and the Mitsui O
.S.K. Line (MOL) in Japan, announced that they agreed with Maersk-Seal
and on a new container transportation service in Atlantic trade to sta
rt at the end of this year. For this new service, one loop of the curr
ent Asia/North America East Coast service that the New World Alliance
Group is in charge of will be extended to northern Europe via the Atla
ntic. Maersk-Sealand will also alter current service and provide 2 lo
ops. Both sides will cooperate with the exchange of slots. HMM has se
rved the 2 loops in the Atlantic Service with the slot chartering from
the Mediterranean Shipping Company (MSC) in Switzerland and will fini
sh the contract till to the end of this year when the new service begi
ns. HMM predicts that they will provide a quality service with one mo
re string in the Atlantic trade and save a great deal in transportatio
n costs. HMM also expects that cargo amounts will increase dramatical
ly. They especially hope to increase their market share and maximize t
heir competitiveness through cooperation with the world's number one s
hipping company.