SM Line

US port fees pressure niche Transpacific liner operators

Shipping data analysis firm Sea-Intelligence examined the impact of the proposal by the US Trade Representative (USTR) to penalise Chinese shipping lines and non-Chinese shipping lines operating China-related vessels.

“We looked specifically at small independent niche carriers on the Transpacific, as the global carriers might have a larger exposure to this proposal, but their extensive and diverse fleet of vessels gives them a greater degree of flexibility to substitute Chinese-built vessels...

https://container-news.com/us-port-fees-pressure-niche-transpacific-liner-operators/

SM Line’s vessel loses containers in Canada due to weather rolling

SM Line-operated 4,228 TEU container ship SM Portland has reported significant cargo damage and container losses while transiting to Vancouver, Canada through the Bering Sea.

According to a customer alert from SM Line on 5 March, severe winter weather and strong winds caused heavy rolling of the South Korean-flagged boxship, resulting in the loss, collapse, and damage of 115 containers.

The vessel reduced speed for safety reasons and will undergo investigation by Canadian authorities before...

https://container-news.com/sm-lines-vessel-loses-containers-in-canada/

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/

Oferta de Hapag-Lloyd para compra de HMM Enfrenta Resistencia de Grupos Industriales Surcoreanos

La Federación de Industrias Marítimas de Corea (FKMI) y la Asociación para el Desarrollo del Puerto de Busan (BPDA) han alzado sus voces en oposición a la oferta realizada por la operadora alemana de líneas marítimas extranjera Hapag-Lloyd para adquirir el transportista insignia de contenedores de...

https://fullavantenews.com/oferta-de-hapag-lloyd-para-compra-de-hmm-enfrenta-resistencia-de-grupos-industriales-surcoreanos/?lang=es

SM Group reverses HMM takeover dream

Samra Midas Group, parent of HMM’s compatriot peer SM Line, has U-turned on its plan to acquire the state’s interest in South Korea’s flagship container carrier.

It is understood that SM Group did not submit a bid for HMM when entries closed on 21 August, even though its founding chairman Woo Oh-hyun was the first to make known his intention to acquire the company.

HMM came under state control in 2016, after exchanging its debt to policy lender Korea Development Bank, for equity. As HMM achieved...

https://container-news.com/sm-group-reverses-hmm-takeover-dream/

CJ Logistics signs up ONE as strategic partner

CJ Logistics, South Korea’s largest third-party logistics provider, signed a collaboration agreement with Ocean Network Express (ONE) on 3 August, a month after sealing similar pacts with other carriers such as Evergreen Marine Corporation and SM Line.

The liner operators hope to increase cargo volumes through CJ Logistics’ network, while the latter aims to secure competitive freight rates.

CJ Logistics and ONE have also agreed to work together to secure container volumes to and from Asia, and to...

https://container-news.com/cj-logistics-signs-up-one-as-strategic-partner/

SM Line, CJ Logistics to expand Transpacific reefer shipping

South Korean liner operator SM Line and compatriot third-party logistics group CJ Logistics will work together to expand their logistics businesses in North America, after signing a memorandum of understanding (MoU) on 21 November.

The two companies will focus on the ocean freight and trucking of reefers, providing cold chain services between South Korea’s Busan port and the US West Coast.

CJ Logistics will tap into SM Line’s ocean logistics network and temperature-controlled reefer delivery...

https://container-news.com/sm-line-cj-logistics-to-expand-transpacific-reefer-shipping/

New CEO for SM Line

South Korean liner operator SM Line has appointed Yoo Jo-hyuk as its new chief executive officer (CEO).

Yoo is taking over from Park Kee-hoon, who resigned on 29 September, citing personal reasons. Media speculation that Park stepped down in the face of falling freight rates was refuted by SM Line.

Yoo’s appointment is an internal promotion, as he was previously SM Line’s network group leader, acting CEO and head of planning and management headquarters. Prior to joining SM Line, Yoo was an...

https://container-news.com/new-ceo-for-sm-line/

SM Line ups capacity on North American west coast service

Gwangyang, South Korea’s second-busiest container port, is anticipating greater export flows to the North American west coast after SM Line decided to deploy larger vessels to its Pacific Northwest Service (PNS).

Yeosu-Gwangyang Port Authority (YGPA) said that its president, Park Sung Hyun, actively promoted Gwangyang to SM Line in the first half of the year, and both sides prepared measures to improve North American import and export logistics, working with SM Line’s Canadian branch.

Accordingly,...

https://container-news.com/sm-line-ups-capacity-on-north-american-west-coast-service/

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