SM Line

SM Line strengthens hold over HMM with more shares purchased

Samra Midas (SM) group has consolidated its position as HMM’s third-largest shareholder after its subsidiary SM Line bought more HMM shares to grow the group’s stake in South Korea’s flagship carrier to 6.29%.

On 30 June, SM Line announced that it had purchased 3.77 million shares for KRW100 billion (US$76.6 million), extending an acquisition spree that started last December.

Although SM Line does not intend to revive its Korea Exchange listing, which was pulled last November, a company...

https://container-news.com/sm-line-strengthens-hold-over-hmm-with-more-shares-purchased/

SM Line ups HMM stake to 5.52%, denies acquisition ambitions

SM group, comprising SM Line and its affiliates, has become HMM’s third largest shareholder after buying a substantial number of shares on 20 June.

In a filing to South Korea’s Financial Supervisory Service, SM Line said that the shares are held by itself and its related entities, namely Korea Shipping Corporation, SM Hi-Plus, Woobang Construction, STX Construction and Korea Line Corporation.

SM group chairman Woo Oh-hyun owns 1.29 million shares.

SM group now owns 5.52% of HMM, just behind state...

https://container-news.com/sm-line-ups-hmm-stake-to-5-52-denies-acquisition-ambitions/

HMM, SM Line and Pan Ocean launch first K-Alliance service

HMM, SM Line and Pan Ocean have started the first service under the K-Alliance, a joint South Korea-Vietnam-Thailand service.

K-Alliance was launched in 2020, with HMM, SM Line, Pan Ocean, Sinokor Merchant Marine and Heung-A Line as members. The alliance was the brainchild of the government, which sought to cut duplication and excess competition in South Korea-Southeast Asia routes. However, it took some time to plan the routes and the collaboration.

Branded as “CVT”, the service will turn in...

https://container-news.com/hmm-sm-line-and-pan-ocean-launch-first-k-alliance-service/

SM Line’s failed attempt to charter HMM vessels highlights tonnage tightness

SM Line is now seeking ways to procure more ships to operate its Transpacific services, after the South Korean liner operator’s slot-sharing deal with the 2M Alliance ended on 8 May.

SM Line, now running Transpacific services as a solo operator, has confirmed to Container News that it had sought and failed to charter two of the six 4,600 TEU ships, which compatriot rival HMM had sold to ship finance institution Korea Ocean Business Corporation on leaseback terms.

SM Line needs more tonnage to...

https://container-news.com/sm-lines-failed-attempt-to-charter-hmm-vessels-highlights-tonnage-tightness/

SM Line ups stake in HMM to 0.99%

South Korean liner operator SM Line (also known as SM Merchant Marine) has purchased more shares in its compatriot rival HMM, increasing its stake to 0.99%.

On 28 April, SM Line bought 2,629,630 HMM shares for US$56.14 million, bringing its total holdings in HMM to 4,886,578 shares.

SM Line has, however, continued to downplay any speculation that it could be a potential candidate to acquire HMM.

A spokesperson for SM Line told Container News, “It is for an investment purpose as the container...

https://container-news.com/sm-line-ups-stake-in-hmm-to-0-99/

Appointment of Hyundai Glovis veteran fuels talk of HMM acquisition

The selection of a former CEO of Hyundai Glovis as HMM’s new CEO has sparked speculation in South Korean media that either Glovis or its parent, Hyundai Motors, could acquire the country’s flagship liner operator.

Kim Kyung-bae, who headed Glovis from 2009 to 2017, was chosen by HMM’s bankers to succeed Bae Jae-hoon, who will not be extending his term when it ends on 26 March. Bae, a previous CEO of Pantos Logistics, headed HMM for three years, during which the liner industry saw record profits...

https://container-news.com/appointment-of-hyundai-glovis-veteran-fuels-talk-of-hmm-acquisition/

No more with 2M on Transpacific: SM Line downplays impact

SM Line has downplayed the impact of the non-renewal of its Transpacific slot-sharing agreement with the 2M alliance, saying that going solo will give the South Korean liner operator more autonomy in operating that trade route.

Following discussions with 2M members MSC and Maersk Line, SM Line, also known as SM Merchant Marine, decided not to renew its two-year agreement after it expires on 8 May.

In its solo Transpacific operation, SM Line will consolidate its US West Coast services from three...

https://container-news.com/no-more-with-2m-on-transpacific-sm-line-downplays-impact/

2M Alliance ceases slot swapping agreement with SM Line on the Transpacific trade

MSC has announced that the slot swapping agreement between SM LINE and the 2M alliance partners on Asia to US West Coast services will end from 8 May 2022.

Consequently, MSC said in its statement that it will cease the slot agreement with SM Line commercialised by MSC as the Rose service.

“Current services covered by MSC and the 2M network, will offer alternative coverage,” noted MSC in a statement, with 2M Alliance, comprising MSC and Maersk, continuing to offer coverage to Vancouver through...

https://container-news.com/2m-alliance-ceases-slot-swapping-agreement-with-sm-line-on-the-transpacific-trade/

Korean antitrust body slaps $81m fine on price-fixing liner operators

The Korea Fair Trade Commission (KFTC) has fined 23 liner operators a total of $81m for ‘fixing’ freight rates on the South Korea to South-east Asia lane between 2003 and 2018.
Most of the major liner operators and a number of regional carriers were among those fined, including HMM, SM Line, Korea Marine Transport (KMTC Line), Pan Ocean, Sinokor, Maersk, Evergreen, Yang Ming, Wan Hai, SITC and Cosco.
KMTC received the heaviest penalty, …

The post Korean antitrust body slaps $81m fine on...

https://theloadstar.com/korean-antitrust-body-slaps-81m-fine-on-price-fixing-liner-operators/

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.