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Biz News Korea(Eng)

HMM to launch new Asia-North Europe container service

Collected: 2018.02.28

Distributed: 2018.03.02

Source: Go Direct

[Photo provided by Hyundai Merchant Marine Co.]

South Korea’s leading container carrier Hyundai Merchant Marine Co. (HMM) will start to provide a new standalone container service between Asia and North Europe in April as part of its expansion plan in the global container market.

The carrier said on Wednesday it will operate a new route between Asia and North Europe separate from another Asia-North Europe route HMM runs jointly with Maersk Line and Mediterranean Shipping Company S.A. (MSC) in 2M Alliance.

Hyundai Merchant Marine plans to operate the new route with 10 units of 4,600 twenty-foot equivalent unit (TEU) container vessels starting April 8. The ships stop in Shanghai, Ningbo, Kaohsiung and Shenzhen in China; Singapore; Colombo in Sri Lanka; Rotterdam in Netherlands; Hamburg in Germany; and Southampton in the UK.

Shipments from Busan to Rotterdam will take 30 days, from Busan to Hamburg 32 days, from Shanghai to Rotterdam 28 days, and from Shanghai to Hamburg 30 days, according to the company.

HMM expects the addition of the new route would help it rapidly expand its presence in the global shipping industry after it successfully turned around its business on the Korean government’s support in 2016. It transported about 4.03 million TEU last year, up 30 percent from a year ago on higher transportation demand from the U.S. and Europe.

The container carrier is also planning to add large-size green vessels in the first half of this year to meet the regulations on sulfur oxides, which are scheduled to come into force in January 2020.

“The new environmental regulations will bring changes to the entire industry, and thus we’ll strengthen our competitiveness by securing green vessels,” said an official at the carrier.

By Moon Ji-woong and Lee Ha-yeon

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