Korea's Heung-A keo nha cai hom nay Sinokor to consolidate container shipping businesses

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 keo nha cai hom nay Fisheries.

Details of the new entity, such as name keo nha cai hom nay governance structure, have not yet been decided.

keo nha cai hom nay, 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.

keo nha cai hom nay posted Won13.1bn (.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 keo nha cai hom nay minimise costs through partnership.

They are already members of Korea keo nha cai hom nay Partnership, a 14-member South Korean national keo nha cai hom nay consortium, which has been reorganising routes shared by the members.

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

Source: Lloyd’s List