South Korea’s SM Line is seeking to partner with compatriot Hyundai Merchant Marine (HMM) on the transpacific.
SM Line, which launched in the past 12 months and has grown dramatically, has outlined plans to launch two new transpacific services in the first half of 2018, with one string to the Pacific Northwest (PNW) and one string to the US East Coast. SM Line already has one transpacific service.
SM Line also revealed that it is seeking various partnership arrangements, including a potential cooperation with HMM to mount joint services on the transpacific route under a pan-Korean partnership. HMM, however, is in an alliance with 2M, the pairing of Maersk and MSC, on the main east-west tradelanes.
A host of Korean carriers came together earlier this year to operate on the intra-Asia trades. In the wake of the demise of Hanjin Shipping at the start of the year, the Korean government has been keen to seek greater consolidation among the nation’s shipping lines.