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16 January 2019 The on-line newspaper devoted to the world of transports 06:36 GMT+1

March 29, 2018

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Original news
The South Koreans Sinokor and Heung-A will melt the activities in the segment of the containerized marine transport

To the restructure the Hyundai Merchant Marine compatriot will collaborate

Following the example of the three shipowning companies Japanese "K" Linens, MOL and NYK that recently have melted the respective activities in the segment of the containerized marine transport constituting joint venture Ocean Network Express (ONE) that it will start the operating activity next Sunday, also the South Korean companies Sinokor Merchant Marine Co. and Heung-A Shipping Co. they have decided to integrate the respective activities in the field of the marine transports of line.

A specific agreement of base will be undersigned next tuesday from the two South Korean companies, but also from the compatriot Hyundai Merchant Marine (HMM). This last one in fact - they have announced the Ministry of the marine Transactions and the peach of Seul and the Korea Shipowners' Association (KSA) - has accepted to actively collaborate with both Sinokor and Heung-A to the aim to facilitate such structural innovation.

The agreement is framed in the within of the Korea Shipping Partnership (KSP), the voluntary association constituted last summer by 14 shipowning societies South Korean assets in the segment of the containerized marine transport in order to increase the competitiveness of national the shipowning industry in this field, association that has been born on the wake of the failure of Hanjin Shipping, the main South Korean containerized company (to inform on August 7, 2017).

The Ministry and KSA have remembered that initially the activity of the association has been time to rational the offer of marine transport of the national companies, with the cancellation of three services that connected Korea with Japan and the Asian south-east and with the withdrawal from the service of 11 ships, while soon the second phase will be time to promote a reorganization job stimulating integration and the cooperation between the navigation companies. "The agreement of restructure in the within of phase two of the KSP - it has specified the minister of the marine Transactions and the peach, Kim Young-Choon - is the result of a voluntary engagement face to the renewal. The government - he has specified - will support the requirements of the navigation companies in order to realize this objective".

Sinokor and Heung-A have fleets with a total cargo ability pairs respective to 55 thousand teu and 47 thousand teu, that is pairs to 34% of the ability to the South Korean fleet employed in the traffics intra-asiati us (with exclusion of those of the HMM and the SM Linens). Collaborating to integration of the services of the two companies, Hyundai Merchant Marine will make of strategic Sinokor and Heung-A own partner for the market intra-Asian.

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