Taiyoung Shipping

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/

PIL sells two more ships

Pacific International Lines has sold another two ships as the troubled Singaporean liner operator works on bolstering its balance sheet.

South Korean feeder operator Taiyoung Shipping has purchased PIL’s feeder vessel, the 2004-built 756TEU Kota Tabah, renaming the vessel TY Incheon. While the sale price was undisclosed, VesselsValue assessed the ship to have a market value of US$2.45 million.

The other ship sold was the 2003-built 2,607TEU Kota Gunawan, to Middle Eastern interests for US$4.6...

https://container-news.com/pil-sells-two-more-ships/

KMTC Line maintains leading role among South Korean feeder operators

Korea Marine Transport Company (KMTC Line) has retained its crown as the best performing South Korean feeder operator in terms of earnings.

All 12 privately owned South Korean feeder operators have released their 2019 results as required by law for companies with assets exceeding KRW12 billion (US$9.67 million).

In 2019, KMTC Line reported revenue of KRW1.84 trillion (US$1.59 billion), up 13.5% year-on-year, while net profits more than doubled to KRW36.66 billion (US$31.71 million). The company...

https://container-news.com/kmtc-line-maintains-leading-role-among-south-korean-feeder-operators/

Busan Port considers volume-linked terminal rentals

Busan Port Authority (BPA), aware of the challenges facing liner operators, could offer volume-linked rental rates to terminal operators from 2022, ahead of the opening of the opening of Phases 2-5 and 2-4 of Busan New Port (BNP).

Currently, a fixed rent is paid based on the area of ​​the wharf, regardless of the amount of loading and unloading.

The volume-linked rental system could reduce the terminal operators’ financial burdens and discourage them from engaging in a price war by cutting fees.

Th...

https://container-news.com/busan-port-considers-volume-linked-terminal-rentals/