HMM, SM Line, Pan Ocean, Sinokor Merchant Marine and Heung-A Line will launch an alliance called K-Alliance by the second quarter of next year under a code-sharing arrangement recently signed by the companies.Through the agreement, South Korea aims to reinforce cooperation between national liner companies and strengthen the competitiveness of the carriers in Southeast Asia where it believes to have growth potential.According to MOF, South Korean container shipping companies have a combined market share of around 40% or about 190,000 teu capacity on the South Korea – Southeast Asia route but the market share has been declining due to the aggressive expansion of other global shipping companies.The alliance partners will also look to jointly order and deploy eco-friendly ships and use port facilities and containers.
Source: Splash247 (Click for further of the article)
Source: Splash247 (Click for further of the article)