Four major boxship lines have formed a new consortium for services from Asia to South America.
Korea's HMM said the agreement will see cooperation with Japanese giant ONE, MSC and Hapag-Lloyd.
Three reorganised loops will be operated in west coast regions with high growth potential, it added.
HMM previously operated three Asia-west coast of South America services with MSC, CMA-CGM, Hamburg Sud, Hapag-Lloyd, APL, and CSCL.
