Hyundai Merchant Marine (HMM), the South Korean liner shipping company, is to join THE Alliance as a full member.
Until now it has been an associate of the 2M Alliance, which includes Maersk and MSC, and there had been talk of it becoming a full member of 2M.
However, it will now become the fourth member of THE Alliance alongside Hapag-Lloyd, Ocean Network Express, and Yang Ming.
A new contract between the four members of THE Alliance will officially start on 1st April 2020.
Rolf Habben Jansen, chief executive of Hapag-Lloyd, said: “HMM is a great fit for THE Alliance as they will provide a number of new and modern vessels, which will help us to deliver better quality and be more efficient – and it will help us also to further reduce our emissions.”