Transpacific New World Alliance extends strategic alliance to 2012

HMM (Hyundai Merchant Marine) announced on September 9 that it concluded a contract extension with APL, MOL regarding TNWA (Transpacific New World Alliance) coming to 2012.

President Roh Jeong Ik of HMM, President David Lim of APL, and President Akimitsu Asida of MOL concluded the contract extension.

They started TNWA in 1998, and will prolong the relationship until 2012.

This goes against the general M&A trend for global shipping companies.

A spokesperson from HMM said, "This extension is very important to us, three companies," and added, "We will offer more choices and services through this turning point in service model development by our three companies."

TNWA has been a strategic alliance group ever since it lead Asia-North America services. Recent developments for it have strengthened its Asia-Europe services.

Now TNWA is operating nine Asia-North America services and two Asia-North America services passing through Panama.

They opened a new service connecting China-Europe in Europe routes last year. It is operating 4 Asia-Europe services and three services in transpacific routes.

TNWA is operating over 100 vessels jointly since it concluded its first contract in 1998.