Namsung Shipping

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/

Namsung offers reefer tracking with IoT solution

South Korean feeder operator Namsung Shipping this week launched an Internet of Things (IoT)-based service to monitor and track refrigerated containers.

The basic service enables shippers to check the movement of reefers and is targeted at customers with refrigerated cargoes passing through China and Indonesia, due to the vast hinterland in the former and the many islands in the latter.

The premium version allows shippers to check the reefer temperature in real time. Shippers who depend on cold...

https://container-news.com/namsung-offers-reefer-tracking-with-iot-solution/

Incheon collaborates with carriers offering Seoul shippers ad hoc sailings

South Korea’s Incheon Port Authority (IPA) has worked with compatriot intra-Asia carriers Sinokor Merchant Marine and Dong Young Shipping to offer extra loader sailings to South-east Asia for shippers exporting from the Seoul area.
The first sailing, on 2 December, saw Sinokor deploy the 1,500 teu Fortune Trader to Singapore, Jakarta, Hai Phong, Incheon and Busan, while Dong Young, a subsidiary of Namsung Shipping, deployed the 1,000 teu Pegasus Pacer to Hai …

The post Incheon collaborates with...

https://theloadstar.com/incheon-collaborates-with-carriers-offering-seoul-shippers-ad-hoc-sailings/

Namsung assigns newbuild feeder pair to intra-Asia routes

Namsung Shipping has taken delivery of a pair of newly built 1,000TEU ships, Star Chaser and Star Ranger, and will deploy the vessels to its South Korea-Japan and South Korea-Hong Kong-Hai Phong services.

The South Korean feeder operator christened the ships at compatriot shipyard Dae Sun Shipbuilding & Engineering, in the presence of its chairman, Kim Young-chi and CEO, Kim Yong-gyu.

The vessels were based on designs produced by Namsung’s subsidiary, Magellan Marine Solutions, Dae Sun and Pusan...

https://container-news.com/namsung-assigns-newbuild-feeder-pair-to-intra-asia-routes/

Wan Hai boosts vessel-acquisition budget and takes over Yokohama terminal

Wan Hai Lines is splashing out on more asset acquisitions as it looks to strengthen its competitiveness amid a firming container shipping market.
The Taiwan carrier now has a war chest of $320m to acquire more pre-owned ships.
In 2020, when freight rates began rising, Wan Hai earmarked $360m to buy second-hand ships to expand its fleet: 12 were purchased and, in November, Wan Hai allotted another $200m to acquire more tonnage. …

The post Wan Hai boosts vessel-acquisition budget and takes over...

https://theloadstar.com/wan-hai-boosts-vessel-acquisition-budget-and-takes-over-yokohama-terminal/

Namsung Shipping books 2,500TEU pair at Hyundai Mipo

South Korean feeder operator Namsung Shipping has commissioned a pair of 2,500TEU container ships at Hyundai Mipo Dockyard (HMD).

The ships are priced at US$41 million each and are to be delivered in late 2023.

The order represents an upsizing of Namsung’s vessels as the company’s current ships have individual capacities ranging from 710TEU to 1,891TEU.

An executive at Namsung told Container News that the newbuildings are intended to serve the East Asia-Southeast Asia route.

It is the second order...

https://container-news.com/namsung-shipping-books-2500teu-pair-at-hyundai-mipo/

Dong Young jumps into Russian Far East route

South Korean feeder operator Dong Young Shipping has launched a new service, connecting South Korea with Russia, on 14 June.

Dong Young will be the sole operator of the new product and has deployed one container vessel, the 700TEU Pegasus Pacer, to the shuttle service between Busan and Vladivostok.

“In line with the company’s principle that Namsung specialises in south-bound shipments and Dong Young focuses on north-bound shipments, it was decided that only Dong Young will operate the South...

https://container-news.com/dong-young-jumps-into-russian-far-east-route/

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/

Intra-Asia carriers launch East Asia regional services

South Korean feeder operators Korea Marine Transport Company (KMTC Line), Namsung Shipping and CK Line with Thai Regional Container Lines (RCL) and Singapore’s regional carrier Mariana Express Lines (MEL) are launching services connecting southern China with Thailand.

The new services coincide with the peak durian season in Thailand, resulting in freight rates hitting US$2,500 for shipping 40ft reefers.

The South Korean operators are offering a joint New Korea-Thailand (NKT) service, with each...

https://container-news.com/intra-asia-carriers-launch-east-asia-regional-services/

S. Korean lines jointly commission three box ships

South Korean feeder operators Namsung Shipping, its subsidiary Dong Young Shipping, as well as Dongjin Shipping, are jointly ordering three 1,600TEU ships from Hyundai Mipo Dockyard.

Both sides came together as the shipbuilder offered a bulk discount for ordering a few vessels. Delivery of the ships, priced at US$25 million each, is expected in H2 2023. Dongjin expects to take delivery of one ship in September 2023, while Namsung and Dong Young will take delivery of the other two ships in...

https://container-news.com/s-korean-lines-jointly-commission-three-box-ships/

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