Hyundai Merchant Marine and its new partners have recently formed the world’s largest shipping alliance, Yonhap reports. The G6 Alliance, as container shipping lines attempt to enlarge their market share by banding together due to the continuing downturn in the industry.
The new alliance will cover the full Asia-Europe line and brings together the New World Alliance and Grand Alliance. It will begin operations before April, Hyundai Merchant Marine said on Wednesday.
Members of The G6 are Hyundai Merchant Marine, Singapore's APL, Japan's Mitsui OSK Lines, Germany's Hapag-Lloyd AG, Japan's Nippon Yusen Kaisha and Hong Kong's Orient Overseas Container Line. The combined market share of the six shipping lines surpasses that of Denmark's Maersk, the world's biggest shipping line.
The new alliance will cover the full Asia-Europe line and brings together the New World Alliance and Grand Alliance. It will begin operations before April, Hyundai Merchant Marine said on Wednesday.
Members of The G6 are Hyundai Merchant Marine, Singapore's APL, Japan's Mitsui OSK Lines, Germany's Hapag-Lloyd AG, Japan's Nippon Yusen Kaisha and Hong Kong's Orient Overseas Container Line. The combined market share of the six shipping lines surpasses that of Denmark's Maersk, the world's biggest shipping line.