Report: New Carrier SM Shipping Starts First Service in March

Image Courtesy: Korea Line Corp.

SM Shipping, a new container carrier established by South Korea’s Samra Midas (SM) Group after the group acquired Asia-US route from bankrupt Hanjin Shipping, plans to start its first service on March 8 along the East and the South China Sea, Korean news site Pulse informed

The service will depart Busan in South Korea and stop in China, Thailand and Vietnam.

The company’s first full service on its Asia-North America route – from Busan to Californian Long Beach Terminal –  is scheduled for April 21.

The company’s fleet has a capacity of 47,000 TEU comprising of the recently purchased five 6,500 TEU boxships, one 4,300 TEU vessel and one 1,000 TEU containership as well as of the leased five vessels with a capacity of 2,000-3,000 TEU, according to Pulse.

By 2018, SM Shipping intends to have a fleet of 21 vessels with a capacity of 110,000 TEU.

In November 2016, World Maritime News reported that SM Group’s Korea Line Corp. was selected as the preferred bidder to take over Hanjin’s Asia-US route, outbidding its compatriot shipping company Hyundai Merchant Marine (HMM).

Now, the shipping firm plans to acquire Hanjin’s terminals in South Korea as well. SM Shipping reportedly agreed with the Seoul bankruptcy court to buy a 100% stake in Gwangyang terminal and an 85.45% stake in Gyeongin terminal.

Additionally, it is likely that the firm will take over the third Hanjin terminal located in Busan.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>


<< Mar 2018 >>
26 27 28 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018 is organized by the Maritime and Port Authority of Singapore…

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >