SM Line adds another ship to fast growing fleet

SM Line adds another ship to fast growing fleet

SM Line, the world’s newest containerline, continues its rapid fleet buildup. The South Korean company, an affiliate of Samra Midas Group, which also owns dry bulk concern Korea Line Corp, has been linked with the Hammonia Pescara, a 2009-built, 4,253 teu boxship previously owned by Hammonia Reederei. SM Line is thought to be paying $6.3m for the Samsung-built vessel.

Hammonia Reederei has been actively reducing its fleet of late, setting a new record, in fact, for scrapping the youngest boxship ever in the past few weeks.

As well as taking on a tranche of the bust Hanjin fleet, SM Line has got brokers busy scouring the world for tonnage as it seeks to build up a fleet of around 110,000 slots which would position it within the world’s top 20 liners. SM Line is in the market for boxships of around 6,500 teu, as well as 4,500 teu and then feeder tonnage. It has laid out plans to enter the transpacific trades by the end of this quarter as well as making a splash on the intra-Asia trades.

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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