South Korean containerline Hyundai Merchant Marine (HMM) has announced today that it expects to have the largest market share in the Middle East market by beefing up its Asia-Middle East trade lanes.
Previously, HMM had only been operated a single route to the Middle East, called Korea-Middle East Service (KMS).
Since Iran sanctions were lifted in January 2016, the cargo volume is expected to increase, HMM noted in a release. It has decided to reorganise its KMS service as well as introducing a new China-Middle East Express (CME) effective July 7.
The new services will boost HMM’s market share in Asia-Middle East market from 8% to 13%, the line claimed.
KME, a restructured service of KMS, will be operated by six container ships: three 8,600 teu vessels andthree 6,800 teu ones.
HMM will also deploy six 4,600 teu ships to the newly added CME service.
HMM, which has been going through a massive restructuring this year, is in negotiations with Maersk and MSC to join the 2M container alliance.