Sinokor and Heung-A merger moves ahead

Sinokor and Heung-A merger moves ahead

From Monday, Sinokor and Heung-A, South Korea’s fourth and fifth largest liners respectively, will merge their container services ahead of a full liner merger in October.

The deal was first announced 13 months ago, and does not involve the non-liner parts of both companies.

Combined the new company will become among the top 20 largest liners in the world and one of the largest on the intra-Asia trades.

Ever since flagship Hanjin Shipping went bankrupt the Korean government has been fostering greater consolidation within the nation’s hard pressed shipping sector. Further mergers are likely. The majority of Korean lines are already operating together on an intra-Asian alliance.

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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