SM Line

Seoul expands container shipping assistance for smaller exporters

South Korean liner operators HMM, SM Line and Korea Marine Transport Company (KMTC Line) are to reserve 900 teu every week for small and mid-sized shippers, as the government intervenes again to ease rising logistics costs.
Of the total, due to high demand, 680 teu will be allocated for US west coast-bound shipments, while 50 teu each will be assigned for cargo going to the US east coast and Europe and …

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https://theloadstar.com/seoul-expands-container-shipping-assistance-for-smaller-exporters/

SM Line refutes talk of HMM takeover

SM Merchant Marine, also known as SM Line, has told Container News that it does not harbour any ambitions of acquiring its fellow South Korean rival HMM, after it purchased more shares in the latter.

On 29 December 2021, SM Line, which the Samra Midas group established from acquiring the operations of bankrupt Hanjin Shipping, paid US$14 million for another 613,438 of HMM’s shares. That took its total holdings in HMM to 0.49%.

Another SM group company, Korea Shipping Corporation, has a 0.44%...

https://container-news.com/sm-line-refutes-talk-of-hmm-takeover/

SM Line expected to grow HMM investment when Seoul sells its share

Speculation about a possible union of South Korea’s two ocean-going liner operators has grown after SM Merchant Marine (also known as SM Line) extended its stake in HMM, and could increase its share further this year.
On 29 December, SM Line, which the Samra Midas (SM) group formed in 2016 after acquiring the remaining operations of bankrupt Hanjin Shipping, acquired an additional 613,438 shares in HMM for $14m, bringing its holding …

The post SM Line expected to grow HMM investment when Seoul...

https://theloadstar.com/sm-line-expected-to-grow-hmm-investment-when-seoul-sells-its-share/

SM Line vessel suffers mechanical failure in Pacific Ocean

An SM Line Corporation’s container ship had to be towed to Ogden Point, Canada, after suffering what appeared to be a mechanical failure in the Pacific Ocean.

On 1 January, the 2007-built 6,655 TEU SM Busan was on its way to Vancouver after departing the US West Coast port of Portland on 19 December 2021, when the ship began stalling.

The Canadian coast guard then arranged for tugs to tow SM Busan along Juan de Fuca Strait to Ogden Point, in compliance with Transport Canada’s guidelines. The...

https://container-news.com/sm-line-vessel-suffers-mechanical-failure-in-pacific-ocean/

SM Line takes minority stake in HMM; minister says still early to assert market recovery

South Korean liner operator SM Line Corporation has become a minority shareholder in its larger compatriot rival HMM, with a 0.49% stake.

SM Line, which withdrew its initial public offering in November, said on 29 December that it had paid US$14 million for 613,438 of HMM’s shares.

The company sought to downplay any speculation that it plans to acquire HMM, of which the government is planning to gradually release its grip, asserting that the stake purchase is purely for investment.

The state’s...

https://container-news.com/sm-line-takes-minority-stake-in-hmm-minister-says-still-early-to-assert-market-recovery/

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/

SM Line adjourns IPO due to bearish stock market

SM Merchant Marine, also known as SM Line, has delayed its initial public offering (IPO) after weak demand from institutional investors.

Announced today, the decision came after consulting lead underwriter NH Investment & Securities, as investor sentiment remains muted due to Covid-19 and the weak growth of shipping stock prices.

The IPO postponement happened a day before retail investors were invited to subscribe to the stocks.

SM Line hoped to raise up to US$722 million through a listing on the...

https://container-news.com/sm-line-adjourns-ipo-due-to-bearish-stock-market/

SM Line shoots down of acquiring HMM

South Korean liner operator SM Line has refuted market talk that it could try to acquire the Korea Development Bank’s stake in its larger compatriot rival HMM.

Speculation arose after Samra Midas (SM) group boss Woo Oh-hyun, who expressed ambitions of building up the shipping business ahead of SM Line’s planned initial public offering (IPO), decided against bidding for SsangYong Motor.

On 30 September, the Korea Exchange approved SM Line’s application for an IPO, further fueling market talk that...

https://container-news.com/sm-line-shoots-down-of-acquiring-hmm/

K-Alliance starts operations 

Five South Korean liner operators began their code-sharing arrangement on intra-Asia routes on 1 September.

HMM, SM Line Corporation, Pan Ocean, Sinokor Merchant Marine and Heung-A Line have started joint intra-Asia services under the K-Alliance that was engineered by the Ministry of Oceans and Fisheries (MOF) and state-backed ship finance provider Korea Ocean Business Corporation last year.

There are 13 South Korean liner operators active in the intra-Asia segment and the MOF was concerned about...

https://container-news.com/k-alliance-starts-operations/

FMC questions eight box carriers about surcharges

The Federal Maritime Commission (FMC) has launched an inquiry, asking eight shipping companies to provide information about the congestion and related surcharges they have implemented.

The carriers identified as having recently implemented or announced surcharges and contacted by FMC are CMA CGM, Hapag-Lloyd, HMM, Matson, MSC, OOCL, SM Line and Zim.

The Commission’s Bureau of Enforcement (BoE) has given a deadline for the liner operators until 13 August to provide details that confirm that any...

https://container-news.com/fmc-questions-eight-box-carriers-about-surcharges/

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