CK Line

Seoul earmarks US$2.5 billion to boost vessel capacity of smaller box lines

As part of plans to grow the locally owned container shipping fleet, the South Korean government will set aside around US$2.5 billion to increase the fleets of SM Line and other South Korean feeder operators by 100,000 TEUs.

The kitty is targeted at SM Merchant Marine, commonly known as SM Line, Sinokor Merchant Marine, Korea Marine Transport Company (KMTC Line), Pan Ocean, CK Line, Namsung Shipping and Dongjin Shipping.

Currently, these companies have a combined boxship fleet of approximately...

https://container-news.com/seoul-earmarks-us2-5-billion-to-boost-vessel-capacity-of-smaller-box-lines/

HMM starts solo intra-Asia route after ending joint operation with KMTC Line

South Korea’s flagship carrier HMM has backed out of the Korea-Thailand Express (KTX) service which it was codesharing with its compatriot regional carrier Korea Marine Transport Company (KMTC Line).

Primarily an ocean-going shipping company, HMM has announced that it will open an intra-Asia cross network (ICN) service, an independent pendulum (clockwise) route within Asia.

Six 1,700 TEU ships operating on the three existing routes will be converted to the new route to connect Korea, China,...

https://container-news.com/hmm-starts-solo-intra-asia-route-after-ending-joint-operation-with-kmtc-line/

CK Line launches intra-Asia multimodal network

CK Line has developed a multimodal transportation network to connect Qinzhou in China’s Beibu Gulf with inland areas of China and South Korea in 10 days and with Vietnam and Thailand in a week.

Chengdu, Chongqing, and Qinzhou in inland western China are connected by rail and then South Korea and Southeast Asian countries are connected by sea from Qinzhou.

CK Line will provide shippers with rail links to its existing Hai Phong Express (HPX) and South China-Thailand (SCT) services. HPX has been...

https://container-news.com/ck-line-launches-intra-asia-multimodal-network/

Korean feeders in profit frenzy

All 12 privately owned South Korean feeder operators had a profitable 2020 as the year saw a remarkable recovery in demand for intra-Asia shipping.

Korea Marine Transport Company (KMTC Line) continued to lead the pack, with revenue of KRW1.89 trillion (US$1.73 billion), up 3% year-on-year, while net profit soared 321% to KRW154.38 billion (US$142.02 million).

Higher freight rates on services between South Korea and the Persian Gulf, Southeast Asia and India was the main reason for the substantial...

https://container-news.com/korean-feeders-in-profit-frenzy/

Liner operators revamp South Korea-China-Japan service

South Korean feeder operators, Korea Marine Transport Company (KMTC Line), Namsung, Pan Continental (PanCon Line) and CK Line, will launch a joint South Korea-China-Japan service in order to improve service efficiency.

The four companies said on 19 August that they will launch their CJ1 service, connecting South Korea’s Busan with Japan’s eastern coast and northern China.

The service will combine PanCon Line’s existing CJ1 service with the New China-Setouchi (NCS) service that is jointly operated...

https://container-news.com/liner-operators-revamp-south-korea-china-japan-service/

Disappointing South Korean liner alliance reformed for another year

Korea Shipping Partnership, a quasi-alliance of all 14 South Korean liner operators, has extended its term by a year, even as its three years of existence failed to improve earnings.

At a meeting between the liner operators and officials from the Ministry of Oceans and Fisheries (MOF) on 28 July, the group was, reportedly, unanimously against renewing the KSP, but MOF, wanted to give it another year.

Wishing to revive the South Korean maritime industry after Hanjin Shipping was declared bankrupt...

https://container-news.com/disappointing-south-korean-liner-alliance-reformed-for-another-year/

South Korean liner alliance in dispute with Busan Port Authority

Korea Shipping Partnership (KSP), a quasi-alliance of South Korea’s liner and feeder operators, are seeking arbitration with regard to Busan Port Authority’s request that the carriers bear additional costs of KRW4.6 billion (US$3.76 million) for operating the multi-purpose terminal in Busan New Port for the past year.

KSP said on 1 June 2020 that it had requested mediation from the Korea Commercial Arbitration Board.

While additional equipment was installed at the terminal, cargo volumes were...

https://container-news.com/south-korean-liner-alliance-in-dispute-with-busan-port-authority/

KMTC Line maintains leading role among South Korean feeder operators

Korea Marine Transport Company (KMTC Line) has retained its crown as the best performing South Korean feeder operator in terms of earnings.

All 12 privately owned South Korean feeder operators have released their 2019 results as required by law for companies with assets exceeding KRW12 billion (US$9.67 million).

In 2019, KMTC Line reported revenue of KRW1.84 trillion (US$1.59 billion), up 13.5% year-on-year, while net profits more than doubled to KRW36.66 billion (US$31.71 million). The company...

https://container-news.com/kmtc-line-maintains-leading-role-among-south-korean-feeder-operators/

South Korean liner trio develop Japan coverage

South Korean intra-Asia carriers Korea Marine Transport Company (KMTC), Namsung Shipping and CK Line have enhanced their South Korea-China-Japan services to capture more cargo volumes from western and southern Japan.

The trio, which already operate one New China-Setouchi (NCS) service, will launch a supplementary NCS2 service. The original NCS service began in June 2019, deploying two 700TEU ships on the Busan-Shanghai-Ningbo-Moji-Iyomishima-Mizushima-Moji-Hakata-Busan-Ulsan loop.

The carriers...

https://container-news.com/south-korean-liner-trio-develop-japan-coverage/

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