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3 Out of 10 Top Shipowning Company Managers Eye New Ships in Next 12 Months

3 Out of 10 Top Shipowning Company Managers Eye New Ships in Next 12 Months

SEOUL, Dec. 5 (Korea Bizwire) — Three out of 10 shipowning company managers said they are likely to order new ships within the next 12 months, according to an industry report, in a sign that the maritime sector sees light at the end of the tunnel. SMM, the leading international maritime trade fair that takes [...]

Prosecutors Indict Two Car Shipping Firms For Price Fixing

Prosecutors Indict Two Car Shipping Firms For Price Fixing

SEOUL, Sept. 5 (Korea Bizwire) – Prosecutors said Tuesday they indicted two international auto shipping companies for fixing bid prices for sea transportations of Korean-made automobiles. Japan-based Nippon Yusen Kabushiki Kaisha, also known as the Japan Mail Shipping Line, and the Seoul-based multinational EUKOR Car Carriers Inc. have been charged with colluding with a few other firms [...]

Busan Vying to Reclaim Title of “World’s Fifth-Largest Container Port”

Busan Vying to Reclaim Title of “World’s Fifth-Largest Container Port”

BUSAN, May 24 (Korea Bizwire) – The Port of Busan, South Korea’s largest port, was marginally outstripped last year by the Port of Hong Kong, conceding the title of the fifth-busiest container port in the world, namely on account of the Hanjin Shipping crisis.  The South Korean port ranked sixth globally in 2016, processing 19.43 [...]

Busan’s Container Cargo Inches up over past 8 Months

Busan’s Container Cargo Inches up over past 8 Months

BUSAN, May 23 (Korea Bizwire) – Container cargo handled at South Korea’s biggest port of Busan has edged up over the past eight months despite the demise of Hanjin Shipping Co., once the country’s No. 1 shipping firm, data showed Tuesday.  Container cargo processed at the southeastern port came to 13.05 million twenty-foot-equivalent units (TEUs) [...]

Hyundai Merchant Officially Joins Major Shipping Alliance

Hyundai Merchant Officially Joins Major Shipping Alliance

SEOUL, March 16 (Korea Bizwire) – Hyundai Merchant Marine Co., a major shipping line in South Korea, said Thursday that it has signed a deal for strategic cooperation with a global shipping alliance, paving the way for the company to better compete with rivals.  In December last year, Hyundai Merchant agreed with Maersk Line, Mediterranean [...]

Government Accelerates Efforts to Revitalize Shipping Industry

Government Accelerates Efforts to Revitalize Shipping Industry

SEJONG, Feb. 16 (Korea Bizwire) – With a Korean court’s imminent declaration of bankruptcy for Hanjin Shipping, which is scheduled for Friday, the Ministry of Oceans and Fisheries announced a set of plans to follow to help revive the local shipping industry.  During a press briefing on Wednesday at the government complex in Sejong City, [...]