SM Line

KMTC Line answers Seoul’s capacity call

Korea Marine Transport Company (KMTC Line) has yielded to government calls for liner operators to provide more shipping capacity.

The South Korean feeder operator is deploying additional vessels to its intra-Asia services to meet demand from compatriot South Korean shippers.

KMTC Line announced on 16 November 2020 that the previous day, the 2,800TEU KMTC Xiamen had set out from Busan, bound for Malaysia.

On 17 December the 2,800TEU KMTC Penang, currently deployed on the China-Taiwan-Japan service,...

https://container-news.com/kmtc-line-answers-seouls-capacity-call/

Seoul demands carriers tackle rising freight costs

Carriers offer shippers extra loaders as the South Korean government pressures carriers to reduce soaring rates and improve services

HMM, the country’s largest carrier, had already extended its extra loader service to February 2021 after meeting with shipper organisations in late September. But further pressure from government has seen SM Line Corporation, South Korea’s only other Transpacific carrier, launching an “extra loader” service too, deploying a 3,000TEU vessel for one sailing each in...

https://container-news.com/seoul-demands-carriers-tackle-rising-freight-costs/

KITA and KSA discuss tough Pacific trading conditions

Liner operators have told South Korean shippers that it will not be easy to solve Transpacific container capacity issues, in a meeting last week.

The Korea International Trade Association (KITA) initiated a meeting with representatives of various liner operators on 24 September, through the Korea Shipowners’ Association (KSA), to discuss rising Transpacific rates, which have come to the attention of both China’s Ministry of Transport and the US Federal Maritime Commission.

The shippers complained...

https://container-news.com/kita-and-ksa-discuss-tough-pacific-trading-conditions/

Disappointing South Korean liner alliance reformed for another year

Korea Shipping Partnership, a quasi-alliance of all 14 South Korean liner operators, has extended its term by a year, even as its three years of existence failed to improve earnings.

At a meeting between the liner operators and officials from the Ministry of Oceans and Fisheries (MOF) on 28 July, the group was, reportedly, unanimously against renewing the KSP, but MOF, wanted to give it another year.

Wishing to revive the South Korean maritime industry after Hanjin Shipping was declared bankrupt...

https://container-news.com/disappointing-south-korean-liner-alliance-reformed-for-another-year/

SM Line to offload Gwangyang terminal to CJ Corporation

South Korean liner operator SM Line Corporation is planning to sell its terminal in Gwangyang port to Gwangyang West Container Terminal (GWCT), a subsidiary of compatriot conglomerate CJ Corporation.

The planned sale is part of a push by the private sector to consolidate container terminals, as the government has expressed concern of an oversupply due to flat cargo growth. Regulated by Yeosu-Gwangyang Port Authority, Gwangyang is South Korea’s second-busiest container port after Busan.

SM Line,...

https://container-news.com/sm-line-to-offload-gwangyang-terminal-to-cj-corporation/

HMM axes South Korea-Japan service

Hyundai Merchant Marine (HMM) will cease its South Korea-Japan service ahead of the South Korean liner operator’s entry into THE Alliance on 1 April.

HMM’s Japan Feeder 1 (JF1) service made its last sailing on 24 March 2020. Thereafter, through THE Alliance, HMM will continue to serve the South Korea-Japan route via a similar loop on the EC1 transpacific service.

Meanwhile, HMM has paid US$25 million into a contingency fund set up by THE Alliance. The fund was set up by the now-defunct CKYHE...

https://container-news.com/hmm-axes-south-korea-japan-service/

SM Line cuts intra-Asia services to focus on trans-Pacific trade

SM Line Corporation is shrinking its intra-East Asia services to focus on its trans-Pacific routes now that it’s part of the 2M network with Maersk Line and MSC.

Formed in 2016, when the Samra Midas Group acquired the business of bankrupt Hanjin Shipping, SM Line said that it will axe its South Korea-Japan (KJX) and South Korea-China (KCX) services in April 2020.

The KJX service, now served by the 700 TEU vessel Contship Day, will end nearly three years from its first day of operations, with its...

https://container-news.com/sm-line-cuts-intra-asia-services-to-focus-on-trans-pacific-trade/

SM Line executives take salary cut as COVID-19 hits

South Korean liner operator SM Line Corporation has asked executives to take a 10% salary cut as the company suffers from falling container volumes amid the COVID-19 outbreak.

SM Line was established in 2016, after the Samra Midas Group acquired the remaining portfolio of bankrupt Hanjin Shipping. The company operates intra-Asia and trans-Pacific services, using 17 ships with combined capacity of around 74,000TEU.

COVID-19 surfaced in Wuhan, China, in December 2019, but has since spread nearly...

https://container-news.com/sm-line-executives-take-salary-cut-as-covid-19-hits/

2M Alliance Partners With SM Line on Transpacific Route

  • 2M Alliance partners with SM Line to continue their six weekly services between Asia and the West Coast of the US and Canada.
  • 2M Alliance’s cooperation deal with Hyundai Merchant Marine (HMM) will expire in the first quarter of 2020. 
  • The new agreement with SM Line is separate from the 2M vessel sharing agreement between MSC and Maersk.
  • MSC’s existing services to the US East Coast and Gulf remain unchanged.
  • The agreement between 2M and ZIM in the Pacific NorthWest region also remains in full...

http://mfame.guru/2m-alliance-partners-with-sm-line-on-transpacific-route/

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