SM in for Hanjin’s Korean terminals

SM in for Hanjin’s Korean terminals

SM Line, South Korea’s newest containerline, owned by Samra Midas Group, continues to make waves. SM, which also owns dry bulk operator Korea Line Corp, will now take on bankrupt Hanjin Shipping’s Korean terminals to go alongside Hanjin’s transpacific operations which it acquired in November.

SM Shipping will buy a 100% stake in Gwangyang Terminal and an 85.45 percent stake in Gyeongin Terminal from the country’s former largest shipowner.

SM Line is also mulling the acquisition of Hanjin’s Busan New Port Terminal.

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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