Korean new boy SM Shipping starts on intra-Asia before tryin

Time: 2017-02-24 13:38
RISING from the ashes of the Hanjin bankruptcy, SM Shipping (SMS), the new container liner under South Korea's Samra Midas Group, is set to sail on its maiden voyage on March 8 along the East and South China Sea with 1,000 TEU aboard.
Its first cargo service will leave Busan and stop at China, Thailand, and Vietnam, according to shipping industry sources, reported the American Journal of Transportation.
SM Shipping's first full service in its Asia-North America route, leaves Busan and arrives at Long Beach Terminal on April 21.
At the same time, it is ramping up its fleet. SMS purchased five 6,500-TEUers, one 4,300-TEUer, and one 1,000-TEU vessels, and leased five carriers of between 2,000-TEU and 3,000-TEU. Its total cargo carrying capacity stands at around 47,000-TEU, placing it on the 33rd rank on a global scale.
SMS plans to expand its fleet to 21 containerships with 110,000-TEU capacity by next year. That would put Korea's total cargo service capacity at around 580,000-TEU together with Hyundai Merchant Marine Co. with 470,000-TEU, about half of the 1.06 million-TEU combined-capacity of Hanjin Shipping and Hyundai Merchant Marine.

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