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Hyundai Merchant Marine to turn Hanjin substitute route into regular service

Wednesday, October 5, 2016 - 14:47

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Hyundai Merchant Marine Co Ltd (HMM) said on Wednesday it will turn its new Asia-US route, begun as an alternative for Hanjin Shipping's services, into a regular weekly service as it hopes for increased market share.

[SEOUL] Hyundai Merchant Marine Co Ltd (HMM) said on Wednesday it will turn its new Asia-US route, begun as an alternative for Hanjin Shipping's services, into a regular weekly service as it hopes for increased market share.

HMM said in a statement it will utilise five container ships of capacities between 4,000-6,000 twenty-foot equivalent units (TEU) in a Shanghai-to-LA shipping route via South Korean ports starting Oct 14.

It said it hopes to increase its market share by strengthening its competitive ability on Asia-US routes.

Hanjin Shipping sought court receivership in late August, stranding US$14 billion in cargo and sending waves through global trade networks.

REUTERS

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