South Korean container operator Hyundai Merchant Marine ( [UNK] ) is reportedly set to exit the 2 M shipping alliance , run by the world 's two biggest operators , AP Moeller - Maersk and Mediterranean Shipping . HMM has run up losses of $ 1 over the past three quarters , while its 2018 liabilities stand at KRW2.5tn ( $ 2.25bn ) . Three more months will be given to show improvement. Insiders said the firm is pondering either joining the Ocean Alliance or merging with smaller South Korean company SM Line . HMM 's main shareholder , the Korea Development Bank , warned if the company does not improve its fortunes , top executives , including CEO Yoo Jin - ho , will be replaced .
South Korean container operator Hyundai Merchant Marine ( [UNK] ) is reportedly set to exit the 2 M shipping alliance , run by the world 's two biggest operators , AP Moeller - Maersk and Mediterranean Shipping . HMM has run up losses of $ 1 over the past three quarters , while its 2018 liabilities stand at KRW2.5tn ( $ 2.25bn ) . Insiders said the firm is pondering either joining the Ocean Alliance or merging with smaller South Korean company SM Line . HMM 's main shareholder , the Korea Development Bank , warned if the company does not improve its fortunes , top executives , including CEO Yoo Jin - ho , will be replaced .