South Korea

South Korea

18 Jan 2022
While carriers are permitted to collaborate on freight rates under South Korea’s maritime shipping act, it must be done in discussion with shippers and details reported to the Oceans and Fisheries Ministry within 30 days.
15 May 2019
Higher volumes for HMM and Yang Ming drove better operating results, but both are still struggling to attain profitability.
26 Apr 2019
The new boss of Hyundai Merchant Marine has been adjusting the carrier’s services as he tries to return the loss-making line to profitability.
23 Apr 2019
HMM’s new CEO is on a European tour that will focus on three key challenges: the future of its 2M Alliance relationship, winning customer trust, and gaining insight into the low-sulfur fuel mandate.
29 Mar 2019
Container lines with the financial muscle — or state backing — are forging ahead with strategies aimed at controlling a greater portion of the container supply chain.
New HMM CEO targets customer focus for turnaround
27 Mar 2019
The South Korean container carrier says its new CEO will “focus on a customer’s view on handling HMM’s current issues in order to lead managerial innovation and strengthen its sales competitiveness.”
An HMM ship.
06 Dec 2018
HMM is trying to reverse a loss trend that most recently saw it post a $147 million net loss in the third quarter, which it blamed on high fuel prices.
SM Line.
13 Nov 2018
“There is no will or reason to merge the two companies. SM Line will continue to build its own business models and we will do our part to survive in the market independently,” said SM Line CEO Kim during a meeting at the company’s headquarters in Seoul.
Air cargo being loaded.
19 Oct 2018
“I don’t know if the peak this year will look like last year, but we have about 20 freighters and take a lot of volume in our widebody fleet that we expanded quite a bit, so there are a lot more destinations,” Cathay Pacific CEO Rupert Hogg said. “But going into next year the future is unknown.”
Russia Trans-Siberian Railroad.
02 Oct 2018
The new route connects the South Korean port of Busan and Russia’s port of St. Petersburg and involves the port of Vladivostok as a transit hub and then the Trans-Siberian Railway to move container cargo to Russia and other European destinations.
A steel mill.
07 Sep 2018
To say that the Trump administration’s steel tariffs and quotas have upset the global steel market would be an understatement, as nations who have hit their quotas are scrambling for new markets, and US importers are searching for new sources of affordably priced steel.