While Friday, February 17 marked the end of one household name in Korean container shipping, March 8 is set to mark the start of new local brand on the box scene.
SM Line, part of Samra Midas Group, will launch its first service in the second week of March. The intra-Asia service will use a 1,100 teu ship and will depart from Busan and call at ports in China, Vietnam and Thailand.
Meanwhile, April 21 has been pencilled in as the date for SM to launch its transpacific sailings. SM bought the transpacific operations of now defunct Hanjin Shipping. Its intention is to have a fleet of 110,000 slots by next year, making it a top 20 global liner company.
Samra Midas also owns dry bulk concern Korea Line Corp and did come close last year to buy a yard belonging to struggling SPP Shipbuilding, a deal that eventually fell through. The group is best known as a construction company.