SM Line takes another feeder

SM Line, the brand new containerline, continues its dramatically fast fleet build up. Brokers report the Korean company, an offshoot of construction firm Samra Midas Group, has taken the 2000-built, 1,679 teu boxship Bermudian Express from Germany’s Elbe Shipping for $3.8m.

SM Line launched earlier this year and has laid out plans to become a top 20 liner in quick time. It has debuted transpacific and intra-Asia services to date and its fleet is a mix of 6,500 teu ships as well as a series of feeders. It continues to keep brokers busy hunting for more tonnage. Parent firm Samra Midas also owns dry bulk outfit, Korea Line Corp.

In other feeder boxship S&P news, Singapore’s Iseaco is being reported as the buyer of the 20-year-old, Taiwanese built Kuo Wei. The 1,295 teu vessel is believed to have fetched $3.3m.

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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