SM Line to buy into Vinalines

SM Line to buy into Vinalines

SM Line, the new container player from South Korea, is in discussions to buy a 5% or 6% stake in Vietnam’s top shipping line, state-backed Vinalines.

Vinalines’s latest IPO effort proved a failure at the start of the month and it is now setting about reworking how to sell its shares.

SM and Vinalines recently linked up to offer a new joint intra-Asia service covering South Korea, Vietnam and Thailand.

SM Line, which is a part of Samra Midas Group who also control Korea Line Corporation, has sought out alliances as a way to grow fast in the 19 months since it was established.

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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