Korean Sinokor, Heung-A Combine Container Shipping Services

shipImage Courtesy of Ali Yahya on Unsplash

South Korean liner shipping companies Sinokor Merchant Marine and Heung-A Shipping will begin integrating their container shipping service businesses next week.

With the combination of services, the duo intends to achieve economies of scale and improve competitiveness in a challenging market.

The integration of services will be followed by a full merger of the two companies in October 2019.

On April 11, 2019, the two parties signed an agreement on the integration of container shipping services, according to a statement issued by Korean Ministry of Oceans and Fisheries (MOF).

The deal is a follow-up to the Korea Shipping Partnership launched by South Korean container carriers back in 2017. The partnership is aimed at strengthening the country’s shipping industry following the collapse of Hanjin Shipping.

Sinokor and Heung-A are to integrate offices and routes in phases, with the Southeast Asia route to be merged first and China/Japan, Korea/Japan routes until December 2020, as explained by the ministry.

Once the process is finalized, the new shipping company will be the third largest in South Korea and the world’s 19th, with a capacity of nearly 90,000 TEU.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Oct 2019 >>
MTWTFSS
30 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 2 3

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

The 5th CWC China LNG & Gas International Summit

Gain Access to Global LNG & Gas Decision Makers in China

Take a peek inside our 2019 Introductory Brochure and stay on top of this rapidly developing market.

See who is already working with us this year as Speakers, Sponsors and Partners – download your Preview Brochure today and meet them in Beijing on 15-16 October 2019.

As the world’s second largest LNG importer, China will remain the biggest contributor to global LNG demand growth in the foreseeable future. Network with global LNG & gas decision makers, buyers, NOCs and Government Officials at the industry’s leading international event in China.

More info

read more >

CEDA Dredging Days 2019

CEDA Dredging Days programme will follow its successful format of contributed peer-reviewed…

read more >

Offshore Wind Europe 2019

#OWEU19 is a meeting place for governments, developers and suppliers to grow the confidence in wind power. Perfect to grow your business by securing new customers, meeting officials and industry heads.

read more >