Korea Ocean Business Corp. (KOBC)

Ex-Busan container rate index shows downward trends

The KOBC Container Composite Index (KCCI) closed at 1,255 points on 20 November, according to Korea Ocean Business Corp. (KOBC).

The index fell 0.55% from the previous week and has stayed on the decline for two back-to-back weeks.

Freight rates for container exports from South Korea’s Port of Busan went down 4.83% to US$1,814 per FEU to the US West Coast, down 1.03% to US$2,398 per FEU to the US East Coast, down 1.82% to US$1,731 per FEU to the Mediterranean and up 1.78% to US$1,198 per FEU to...

https://container-news.com/ex-busan-container-rate-index-shows-downward-trends/

HMM to commission a dozen 13,000TEU vessels by June

HMM will order a dozen 13,000TEU ships within H1 2021, at the direction of South Korea’s Ministry of Oceans and Fisheries (MOF).

The newbuilding plan was announced on 15 April with the funding coming from Korea Ocean Business Corporation (KOBC) among others.The decision was taken at a meeting involving the MOF minister, Moon Sung-hyeok, HMM CEO Bae Jae-hoon, KOBC president Hwang Ho-sun, Minister of Economy and Finance Hong Nam-ki and Minister of Trade, Industry and Energy Sung Yun-mo.

The MOF...

https://container-news.com/hmm-to-commission-a-dozen-13000teu-vessels-by-june/

South Korea eyes container manufacturing

The South Korean government is considering starting a container factory to address the ongoing container shortage.

Officials from the state-backed ship finance institution Korea Ocean Business Corporation (KOBC) reportedly met representatives of HMM and other local container carriers in the Korea Shipping Association’s (KSA) office on 5 March 2021.

During the meeting, solutions for ensuring a stable supply of containers were reportedly discussed, and the setting up of a container manufacturer was...

https://container-news.com/south-korea-eyes-container-manufacturing/

KMTC Line and KOBC launch Port Klang facility

South Korean feeder operator Korea Marine Transport Company (KMTC Line) and the state-backed finance institution Korea Ocean Business Corporation (KOBC) have jointly launched a container facility in Malaysia’s Port Klang.

The KRW700 million (US$630,000) joint venture, KM Cargo Services, is tapping growing cargoes within Southeast Asia.

KMTC Line and KOBC hold respective stakes of 60% and 40% in KM Cargo Services, whose facility is based in the Port Klang’s Northports terminal.

Port Klang is a...

https://container-news.com/kmtc-line-and-kobc-launch-port-klang-facility/

Sinokor gets nearly US$180m in loans from policy lenders

South Korean financial institutions have put up a loan package of nearly KRW200 billion (US$179 million) for Sinokor Merchant Marine, the country’s second largest container shipping group.

The financing is part of a move to support South Korea’s major shipping companies that are experiencing a liquidity crunch due to the Covid-19 pandemic.

Korea Development Bank and The Export-Import Bank of Korea will provide KRW120 billion (US$107.39 million) of long-term loans to Sinokor, while Korea Ocean...

https://container-news.com/sinokor-gets-nearly-us180m-in-loans-from-policy-lenders/

Gov’t to inject $706 million into HMM

The government is considering an injection of 800 billion won ($706 million) into Hyundai Merchant Marine Co., the nation’s leading oceangoing shipping company, within this year to help it tide over mounting losses, industry sources said Saturday (10/13/2018).

The company’s largest-shareholder Korea Development Bank and the state-run maritime business promotion agency Korea Ocean Business Corp. (KOBC) said they are reviewing a plan in which Hyundai Merchant issues bonds and the two purchase 400...

http://container-news.com/govt-inject-706m-hmm/