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

The two firms plan keo nha cai hom nay sign a letter of intent on April 3 keo nha cai hom nay set up a new joint entity. They expect keo nha cai hom nay complete the consolidation by the end of next year, said South Korea’s Ministry of Oceans and 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 keo nha cai hom nay merge their container shipping operations marks the two companies’ latest effort keo nha cai hom nay maximise their resources and 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 and Sinokor will remain within KSP and continue keo nha cai hom nay co-operate with other members.

Source: Lloyd’s List