As the transpacific contract season begins, the shipping line has announced plans for its USWC service after it exits the G6 alliance in April, The Loadstar reported.
The PS1 loop will call at Long Beach, PS2 will serve Los Angeles and Oakland and PS3 will call at Tacoma and Vancouver. The services will replace HMM's participation in the G6 and its standalone HNS (Hyundai New Start) service, launched in September in the wake of the Hanjin Shipping failure.
HMM released PIERS data showing a big jump in its USWC liftings in January, up 55.3 per cent year on year, to 14,899 TEU a week, and is now ranked the sixth-biggest carrier on the route after Evergreen, Cosco, Maersk, MSC and APL, with a 7.5 per cent market share, versus its previous 4.9 per cent.
HMM said: "Our volume and market share have gradually increased since Hanjin Shipping's receivership. We recently achieved an upgraded credit rating of BB (stable) which helps to rebuild trust with customers."
It has been announced that HMM would receive KRW720 billion (US$630 million) from a state-backed ship financing firm to "shore up its capital base", and that the carrier would also be placing orders for five new containerships as part of the financing programme.
The 2M alliance recently announced an extra Asia-US east coast service to its network from April - called TP16 by Maersk and Emerald by MSC - to accommodate the extra volumes from its new slot charter agreements on the route with HMM and Hamburg Sud.
Both carriers say only their vessels will be deployed on the service and have sought to reassure shippers that containers will not be loaded onto HMM vessels without their prior agreement, after receiving a negative backlash after the cooperation agreement was signed in December.
The PS1 loop will call at Long Beach, PS2 will serve Los Angeles and Oakland and PS3 will call at Tacoma and Vancouver. The services will replace HMM's participation in the G6 and its standalone HNS (Hyundai New Start) service, launched in September in the wake of the Hanjin Shipping failure.
HMM released PIERS data showing a big jump in its USWC liftings in January, up 55.3 per cent year on year, to 14,899 TEU a week, and is now ranked the sixth-biggest carrier on the route after Evergreen, Cosco, Maersk, MSC and APL, with a 7.5 per cent market share, versus its previous 4.9 per cent.
HMM said: "Our volume and market share have gradually increased since Hanjin Shipping's receivership. We recently achieved an upgraded credit rating of BB (stable) which helps to rebuild trust with customers."
It has been announced that HMM would receive KRW720 billion (US$630 million) from a state-backed ship financing firm to "shore up its capital base", and that the carrier would also be placing orders for five new containerships as part of the financing programme.
The 2M alliance recently announced an extra Asia-US east coast service to its network from April - called TP16 by Maersk and Emerald by MSC - to accommodate the extra volumes from its new slot charter agreements on the route with HMM and Hamburg Sud.
Both carriers say only their vessels will be deployed on the service and have sought to reassure shippers that containers will not be loaded onto HMM vessels without their prior agreement, after receiving a negative backlash after the cooperation agreement was signed in December.