Industry Associations

South Korean Lines to Sign Consortium MOU

South Korean Lines to Sign Consortium MOU
Danny Gill

The Korea Shipowners Association (KSA) and other logistics media outlets are reporting that details have been released for a new consortium comprising all 14 South Korean liner and feeder operators.

The consortium’s goal is to focus on intra-Asia trades, and is to be tentatively called the Korea Shipping Partnership. The 14 companies are scheduled to sign a memorandum of understanding on August 8th. The consortium members include Hyundai Merchant Marine (HMM), SM Line Corporation, Heung-A Shipping, Sinokor Merchant Marine, CK Line, Korea Marine Transport Co., Ltd (KMTC), Pan Ocean, Pan-Continental Shipping, Namsung Shipping, and Dongjin Shipping.

Mr. Kim Young-moo

The trigger for this consortium was Hanjin Shipping Lines’ bankruptcy in February 2017 that has had reverberating effects throughout the industry. To avoid another such incident, these companies will cooperate to improve their competitiveness by sharing slots, rationalizing and jointly managing routes, and co-managing overseas terminal assets. Once the consortium agreement is officially realized in January 2018, the member companies will terminate their individual intra-Asia routes and consolidate services with one another.

KSA vice-chairman said, “For the first time in our country’s history, all liner and feeder operators are joining hands. We plan to work together to grow and to restore our image, both domestically and internationally.”

Industry Associations
Danny Gill

Danny is currently a Contributing Writer for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

More in Industry Associations

Challenges and Tips for Successful Factory Relocation and Heavy Machinery Transportation

Hatsamon KittipongvorakarnSeptember 21, 2018
MacGregor Collaborates as Part of a Consortium to Improving Containership Performance

MacGregor Collaborates as Part of a Consortium to Improving Containership Performance

Danny GillSeptember 4, 2018
Home » GENCO, A FedEx Company Introduces Scalable Warehouse Solution for Healthcare Manufacturers GENCO, A FedEx Company Introduces Scalable Warehouse Solution for Healthcare Manufacturers

APICS and ASLOG Form Strategic Alliance

Danny GillSeptember 28, 2017
Ocean Alliance Calls APM Terminals Port Elizabeth

Ocean Alliance Calls APM Terminals Port Elizabeth

Danny GillJune 22, 2017
Industry Experts Weigh in on the Outlook for Container Shipping

Industry Experts Weigh in on the Outlook for Container Shipping

Danny GillJanuary 27, 2017
TAPA

TAPA Calls for Greater Sharing of Incident Data for Supply Chain Security

Danny GillDecember 14, 2016

THE Alliance Enhances its Mediterranean-North America East Coast Offering

Danny GillDecember 8, 2016

OCEAN ALLIANCE Sets Out Network

Danny GillNovember 3, 2016
OCEAN Alliance receives approval

FMC Approves OCEAN Alliance

Danny GillOctober 25, 2016
LM is the leading source of logistics and cargo news within ASEAN and is regarded as one of the most authoritative sources of information. Our subscribers keep up to date with the latest logistics news, views, features and events within ASEAN and beyond.
AFL Real Logo

Airfreight Logistics is the air cargo professional’s number one provider of news and information in ASEAN and around the World. To keep abreast of all the latest news and for in-depth features visit our website www.airfreight-logistics.com

UpMedio

Subscribe to our newsletter!

© 2015 Logistics Manager | About Us | Advertise | Subscribe | Contact | thai Thai Version