The container lines were fined a total of 2.39 million Chinese yuan renminbi (U.S. $347,212) for failing to record or recording inaccurate data on their freight rates.
The French ocean carrier will buy space on a service between North Europe and the West Coast of North America, as well as on a service between Japan and California.
A spokesperson from Hyundai Merchant Marine (HMM) told American Shipper the loop is expected to commence April 2 from Laem Chabang, operating with seven, 6,800-TEU vessels supplied by HMM.
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Donald Trump used harsh anti-trade rhetoric during his campaign, leaving many to wonder if tariffs and other trade barriers will be implemented at the expense of export and logistics jobs.
Members of the 2M Alliance - Maersk and MSC - reached a space-sharing deal with HMM, which they said is “outside the scope” of the 2M Alliance, but will involve HMM buying slots on 2M vessels and 2M partners purchasing slots with HMM on selected routes.
Bulk shipping company Korea Line Corp. has been picked over Hyundai Merchant Marine to acquire Hanjin’s operations between Asia and the United States.