Thursday, 13/08/2020, 21:44 (GMT +7)
1705
CU Lines joins the Korea-Vietnam shipping service
Container vessel - CU Lines
Mainly operating in the Chinese inland waters and the Taiwan Strait, the main owner of the carrier CU Lines, with a 55% stake is Unitrans, a company controlled by the Chinese government.
The new service will start on August 16. HPX service calls at Incheon, Busan, Hong Kong and Hai Phong, Vietnam.
HMM and CK Line will each deploy one 1,200 TEU container ship for HPX service, and South Korean shipping agent Star Ocean Line is set up to represent CU Lines in the country.
Star Ocean President Eom Tae-Man said the company "is expanding its agency business by representing shipping lines from different countries, such as China's CU Lines, Singapore's Feedertech and Perma Shipping Line”.
Fierce competition in East Asia-Southeast Asia shipping routes is on the rise, a point noted by South Korea's Minister of Marine and Fisheries - Moon Seong-hyeok - when he launched a five-year expansion plan. aims to revive the shipping industry on August 12, 2020.
As soon as the HPX service was put into operation, another South Korean feeder operator, Pan Continental Shipping (PanCon Line) announced that it would deploy a vessel owned by itself to increase capacity on the service. BIH service with the Busan-Incheon-Hai Phong route.
Since the BIH service began in late 2015, PanCon Line has purchased slots from fellow feeder operator Namsung Shipping. From 25 August, PanCon Line will deploy the 1,000TEU PanCon Victory to complement Namsung's capacity.
On August 18, Thailand-based feeder operator Regional Container Lines and Hong Kong-based Gold Star Line will launch a service route linking Ho Chi Minh City with Singapore and Malaysia's Port Klang, using ships 900 TEU.
Container volumes between East Asia and Southeast Asia, especially Vietnam, are increasing due to the US-China trade tensions that have prompted manufacturers to shift some production activities from China to Vietnam.
Phaata (Adapted from Container-News)
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