Hyundai Merchant Marine strongly denies WSJ’s report on ‘failed bid to join 2M’

Hyundai Merchant Marine, which is holding last-minute negotiations with Danish shipping giant Maersk Line and other key members of 2M, the world’s largest shipping alliance, has bumped into an unforeseen obstacle.

“Maersk Line spokesman Michael Storgaard said ‘it would no longer hold talks with Hyundai Merchant Marine about its joining 2M,’” the Wall Street Journal reported on Thursday. “We will seek other ways of cooperation instead.”

Hyundai Merchant Marine immediately denied the report. “Our negotiations to join 2M, which are underway in Copenhagen, are in the final phase of last-minute fine-tuning,” a Hyundai source said. “The result will come out as early as next week. We will make a strong appeal with the WSJ and Maersk regarding this report.”

Perplexed by successive media reports on its "failing bid to join 2M," however, Hyundai Merchant Marine is scrambling to find Maersk’s true intent. “It seems Maersk is trying to take away clients by fueling concern over Hyundai Merchant Marine ahead of year-end contracts with large freight owners in the U.S.,” the Korean shipping company said.

Sung-Gyu Kim sunggyu@donga.com