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12 July 2020 The on-line newspaper devoted to the world of transports 04:22 GMT+2

April 12, 2019

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Original news
The South Koreans Sinokor and Heung-A start the fusion of the activities of containerized marine transport

The new company, with a fleet of the ability to beyond 90 thousand teu, will be nineteenth the world-wise one

In South Korea note is returned a new initiative in order to tackle to the crisis that characterizes many of the national companies that operate in the field of the containerized marine transport, section that deeply is shaken two years ago from the failure of the company of Hanjin Shipping navigation and that the government of Seul has decided to support with the other branches of shipping with the Maritime creation of the Korea Promotion Corporation (KMPC or KOBC - Korea Ocean the Corporation Business) in support of the investments in the field(on February 17, 2017, 24 July and 25 August 2018).

Today the companies Sinokor Merchant Marine Co. and Heung-A Shipping, respective the fourth and the fifth company of national navigation of the segment of the container, in fact have announced the decision to start monday integration of these respective activities in order to succeed in to put into effect the next October a complete fusion between the two copper of business. Initially an integration between the offices of the two companies will be realized, will be operated marine services kinsmen and will be integrated the respective computer science systems, in order to reach therefore in autumn the constitution of a new society. The KMPC/KOBC will before supply support to the two companies and after the fusion.

Currently Sinokor has a fleet of 46 ships, of which the two third party of property, with a total cargo ability pairs to 60 thousand teu. The fleet of Heung-A Shipping is constituted by 28 ships, less of the half than property, that they can transport a total of beyond 30 thousand teu. With the fusion the third national operator of the shipping will be instituted containerized behind of Hyundai Merchant Marine (HMM), that he has a fleet in a position to transporting 440 thousand teu, and of the Korea Marine Transport Co. (KMTC), whose ships can load beyond 150 thousand teu, and in front of the SM Line Corporation that has a fleet in a position to loading 75 thousand teu. The new company, moreover, will be the nineteenth world-wide one for cargo ability of the fleet.

Currently the portacontainer of the Sinokor they are employed in Far East mainly on routes that connect South Korea with China, Russia and Japan and on routes between China and Japan. The net of services of the Heung-A covers the same E region it is extended also to the Asian south-east and the South Asia (India).

"Integration of the Sinokor Merchant Marine Co. and of Heung-A Shipping - the minister of the Oceans and fishing has commented, Moon Seong-hyeok - a milestone for the Korean industry of the shipping will constitute giving again them competitiveness through the restructure of its structure to low cost and to elevated efficiency. We will continue - it has specified the South Korean minister - to pursue initiatives for the restructure of the shipping".

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