South Korea-based shipping company Hyundai Merchant Marine (HMM) and Singapore base carrier, Austral Asia Line (AAL), announced that they have reached an agreement for a Multi-Purpose Vessel (MPV) service.
HMM & AAL will start a joint service for 4 MPVs in HMM’s operation as well as newly added 2 AAL A-Class vessels.
HMM will deploysix vessels in Asia, in Middle East region, instead of four that are currently deployed. One of the AAL’s vessels will be deployed in March, and the other during the second half of 2018.
The service wants to encompass a wider pool of cargo, including Project, Bulk and Breakbulk cargoes, providing service for a wider range of customers and for EPC’s project cargoes.
AAL said: “AAL and HMM share valuable expertise serving this trade and solid reputations for trust and quality. By pooling our resources, we can each offer more comprehensive service portfolios with improved frequency, capacity, coverage and economies of scale for our customers. There will be no collaboration on pricing and we will each pursue bookings under our own respective brands, with separate commercial teams and bills of lading.”