HMM puts $25 M into THE Alliance ¡®Contingency Fund?
Source
American Shipper
Post Date
03/31/2020
The partner carriers of THE Alliance have increased total contributions to their Contingency Fund, a cash reserve to be used in case of a member shipping line insolvency, from $50 M to $75 M.
The extra money was deposited by HMM which will be joining the alliance from 1 April.
HMM¡¯s $25 M contribution will be the largest among the four THEA partners, with other members¡¯ shares slightly revised as follows: Ź ONE : $23.298 M (from $23.684 M), Ź Hapag-Lloyd : $16.253 M (from $15.886 M) Ź Yang Ming : $10.449 M (from $10.430 M)
The amount of contingency contribution is reviewed by THE Alliance¡¯s member lines each year, starting on 1 April
