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Maritime Market News

Korea's Heung-A and Sinokor to consolidate container shipping businesses

Ngày đăng: 29/03/2018 | Lượt xem: 63

SOUTH Korea’s Heung-A Shipping and Sinokor Merchant Marine have decided to combine their container shipping businesses to boost their competitiveness on the global stage, in a move similar to the one enacted by Japan’s NYK, MOL and K Line.
 

The two firms plan to sign a letter of intent on April 3 to set up a new joint entity. They expect to complete the consolidation by the end of next year, said South Korea’s Ministry of Oceans and Fisheries.

Details of the new entity, such as name and governance structure, have not yet been decided. 

Heung-A, with a capacity of 47,000 teu, operates a total of 69 services within Asia while Sinokor, with a capacity of 55,000 teu, operates 60 services within Asia.

Heung-A posted Won13.1bn ($12.1m) of operating loss while Sinokor recorded Won61.3bn of operating profit last year.

The plan to merge their container shipping operations marks the two companies’ latest effort to maximise their resources and minimise costs through partnership.

They are already members of Korea Shipping Partnership, a 14-member South Korean national shipping consortium, which has been reorganising routes shared by the members.

After the consolidation of their containership businesses, Heung-A and Sinokor will remain within KSP and continue to co-operate with other members.

 Source: Lloyd’s List        
 

Chỉ số Thị trường

MARKET INDICATORS
  05-Jun 29-May CHG
HRDI 652 486 166
BDI 679 504 175
BPI - - - - - - - - -
BTI Clean 491 596 -105

 

EXCHANGE RATES
  05-Jun 29-May CHG
$-VND 23,340 23,370 70
$-EURO 0.882 0.901 0.009
$-YUAN - - - - - - - - -
$-YEN - - - - - - - - -

 

BUNKER PRICES
  05-Jun 29-May CHG
RTM 380cst 231 191 40
 LSFO 0.50% 273 226 47
MGO 299 261 38

SGP

380cst 237 199 38
 LSFO 0.50% 290 259 31
MGO 321 291 30