South Korean container carrier SM Line Corp. has agreed with 2M Alliance to co-operate on the Asia-America route starting April 1, a move that is expected to help the Korean shipper to expand its services in the region and cut costs.
SM Line said it will sign a joint operation agreement with 2M Alliance on routes between Asia and America this month.
2M Alliance, operated by global shipping giants Maersk Line and Mediterranean Shipping Company S.A. (MSC), is one of the world’s top 3 ocean carrier alliances along with THE Alliance and Ocean Alliance.
SM Line expects its partnership with 2M Alliance would help it expand capacity and save costs on its main service route of Asia-America with added port coverage and faster transit time. It also anticipates the partnership would help strengthen its reefer container service.
SM Line was launched in 2018 after a mid-sized Korean conglomerate Samra Midas Group bought assets of Hanjin Shipping, once the country’s largest container shipper that is now defunct.