Seoul to promote more liner mergers

Seoul to promote more liner mergers

The South Korean government has set out to promote more mergers among its hard-pressed liner companies. The country, which saw its flagship carrier, Hanjin, fold in spectacular fashion three years ago, has been taking many measures in recent years to try and avoid another fallout from a liner collapse.

The Ministry of Oceans and Fisheries in its policy plan for this year released yesterday said it will seek ways to prevent cutthroat competition among local liners, promoting mergers among the country’s eight major container carriers to bring down the number down to just six names. The majority of Korea’s carriers are focused on the intra-Asia trades, with many already in an alliance in this tradelane.

Also announced yesterday by the ministry were plans by the state via recently created vehicle Korea Ocean Business Corp to order 60 LNG-fuelled ships this year.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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2 Comments

  1. Avatar
    Michaelhsu
    March 9, 2019 at 6:40 am

    May I know which carriers will be merged in KR ? Fm EMC

    1. Avatar
      Phil
      March 11, 2019 at 7:19 am

      Sinokor + Heung-a