Maersk Line and Mediterranean Shipping Company have entered into a strategic partnership with Hyundai Merchant Marine.

Under the cooperation agreement, which is scheduled to take effect from April 2017, the three shipping lines will carry out a number of slot exchanges and purchases. Maersk and MSC will also take over a number of charters and operations of vessels that are currently chartered to HMM.

However, according to Maersk, the partnership is outside the scope of the 2M vessel-sharing agreement between Maersk Line and MSC.

“We are pleased to enter into this strategic cooperation with Hyundai Merchant Marine, Korea’s leading container carrier,” said Søren Toft, chief operating officer of Maersk Line. “It will enable us to enhance our 2M network and presence in the important trans-Pacific trade. We look forward to leveraging these new opportunities to the benefit of our customers.”

The initial term of the cooperation is three years with an extension option, according to Maersk.