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.