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May 13, 2016, 7:42 a.m. EDT

6 shipping lines seal alliance to take on global giants

Group excludes Hyundai Merchant Marine for now

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By Costas Paris and In-Soo Nam


Bloomberg
Six European and Asian container-shipping operators have formed an alliance to take on leaders such as Maersk Line.

SEOUL — Some of the biggest Asian and European container-shipping operators left out of a recent wave of industry consolidation said Friday they would form a new alliance, in a bid to rival the dominance of global giants such as Maersk Line and Mediterranean Shipping Co.

The new alliance, set to go into operation in April next year, was​ announced simultaneously in Hamburg and Seoul​ ​and​ ​consists ​of ​the Japanese trio Nippon Yusen K.K. /zigman2/quotes/203488100/delayed JP:9101 -0.20% /zigman2/quotes/208117193/delayed NPNYY 0.00%  , Kawasaki Kisen Kaisha Ltd. /zigman2/quotes/201857679/delayed JP:9107 -1.66%  and Mitsui O.S.K. Lines Ltd. /zigman2/quotes/204152844/delayed JP:9104 -1.25%  ; Germany’s Hapag-Lloyd AG /zigman2/quotes/208183265/delayed DE:HLAG -1.24%  ; South Korea’s Hanjin Shipping Co.  ; and Taiwan’s Yang Ming Marine Transport Corp. /zigman2/quotes/207274746/delayed TW:2609 0.00%  

Hyundai Merchant Marine Co. Ltd. /zigman2/quotes/204437954/delayed KR:011200 -0.15%  , currently under restructuring by main creditor Korea Development Bank, said it plans to join the alliance later. Hanjin and HMM move almost all of Korea’s exports.

“The six-member alliance is not final and definitive,” said a Hyundai spokesman. “The door is still open to us. We expect to have no problem joining the group once our debt restructuring program with creditors ends successfully​.”

The new grouping, called “THE Alliance,”​ closes a circle of new partnerships that will dominate the movement of global cargo over the coming years. It is subject to regulatory approvals by U.S., Chinese and European maritime watchdogs.

An expanded version of this report appears on WSJ.com

/zigman2/quotes/203488100/delayed
JP : Japan: Tokyo
¥ 2,013.00
-4.00 -0.20%
Volume: 938,500
Dec. 16, 2019 3:00p
P/E Ratio
N/A
Dividend Yield
1.99%
Market Cap
¥340.54 billion
Rev. per Employee
¥51.22M
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/zigman2/quotes/208117193/delayed
US : U.S.: OTC
$ 3.74
0.00 0.00%
Volume: 90.00
Dec. 12, 2019 5:20p
P/E Ratio
N/A
Dividend Yield
1.13%
Market Cap
$3.12 billion
Rev. per Employee
$464,396
loading...
/zigman2/quotes/201857679/delayed
JP : Japan: Tokyo
¥ 1,897.00
-32.00 -1.66%
Volume: 580,600
Dec. 16, 2019 3:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
¥179.92 billion
Rev. per Employee
¥128.12M
loading...
/zigman2/quotes/204152844/delayed
JP : Japan: Tokyo
¥ 2,997.00
-38.00 -1.25%
Volume: 447,000
Dec. 16, 2019 3:00p
P/E Ratio
7.93
Dividend Yield
2.17%
Market Cap
¥362.96 billion
Rev. per Employee
¥125.14M
loading...
/zigman2/quotes/208183265/delayed
DE : Germany: Frankfurt
71.80
-0.90 -1.24%
Volume: 0.00
Dec. 16, 2019 8:22a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€916,289
loading...
/zigman2/quotes/207274746/delayed
TW : Taiwan
NT$ 7.26
0.00 0.00%
Volume: 869,172
Dec. 16, 2019 1:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
NT$18.89 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/204437954/delayed
KR : S. Korea: KRX
3,365.00
-5.00 -0.15%
Volume: 278,036
Dec. 16, 2019 3:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
₩1066.78 billion
Rev. per Employee
N/A
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