SM Line Launches New Shipping Services

Photo: SM KLC

By Aiswarya Lakshmi

South Korea's new container carrier, SM Line, which
is built mainly on the remains of collapsed Hanjin Shipping,
plans to kick off operations with as many as nine routes this
year.

According to Yonhap, it will begin its services to Thailand,
Vietnam, Japan and other regions with a fleet of 12 container
ships. The carrier then wants to grow to 41 ships on 25 routes
over the next five years.

Late last year, SM Group, which owns South Korea's No. 2 bulk
carrier Korea Line Corp., acquired now-defunct Hanjin Shipping
Co.'s U.S.-Asia route and other assets for 37 billion won (US$32
million).

Of the 12 ships, the company runs six chartered ships. Its fleet
includes eight 6,500 TEU-ships and one 4,300 TEU-vessel, SM Line
said. The company said it aims to log 3 trillion won in sales
within five years.

SM Line has emerged as a new container line to take the place of
Hanjin Shipping with the Asia-US assets that have been bought out
from the bankrupt carrier. SM Group has a successful history of
growth through acquisition, both in its core construction
business and in the maritime industry.

Mar 6, 2017

Let's block ads! (Why?)

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.