U.S. FMC Commissioner William Doyle has voted in favor of allowing the cooperation agreement between Hyundai MM and 2M Alliance members MSC and Maersk. He is keen to point out, however, that it is not a formal “2M+Hyundai MM” deal, rather just a cooperation between three separate liners. This is presumably a reference to the risks faced by shipping customers after Hanjin Shipping’s failure. Hyundai MM brings extra market share in Asia to the group, but only adds 2.1% points of market share to the combined Maersk-Hamburg Sud-MSC group’s 17.3% on U.S.-bound lines. The bigger issue is a pot...