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Back from death's door, HMM aims to dominate Asia-Mideast trade
KOREA's Hyundai Merchant Marine (HMM), having just completed financial restructuring, now plans to dominate Far East-Middle East trade, reports IHS Media Fairplay.
HMM aims to have the largest market share on the Far East-Middle East trade by expanding services, adding a new loop to exploit pent-up Iranian demand after the lifting of economic sanctions.
Back from death's door, South Korea's No 2 box line, which reportedly restructured its debt last week, said its share of the trade will soon rise from eight to 13 per cent.
Its restructured services takes will take effect Thursday and the new service will be launched July 18.
The Korea-Middle East Express, a restructured service of the Korea-Middle East Service, will deploy six ships, three of 8,600 TEU and the three 6,800-TEU.
The accent will be on speed with the new service able to deliver cargo about two days earlier than the existing service.
The rotation of KME service is Gwangyang, Busan, Ningbo, Shenzhen-Yantian, Hong Kong, Port Klang, Jebel Ali-Abu Dhabi, Bandar Abbas, Karachi, Singapore and Hong Kong.
HMM will also deploy six 4,600-TEU ships to the newly added China-Middle East Express. The transit from Shanghai to Dammam will take 18 days.
The port rotation of CME, effective July 18, is Qingdao, Shanghai, Xiamen, Kaohsiung, Shenzhen-Shekou, Jebel Ali, Dammam, Bandar Abbas, Singapore and Hong Kong.
The CME service will add its coverage to Qingdao, Xiamen, Shenzhen-Shekou and Dammam, which were not included in the previous KMS service.
HMM will also enhance its service frequency by calling at Bandar Abbas and Jebel Ali, the region's major ports, twice a week instead of the existing weekly frequency. HMM plans to gradually deploy seven 13,100-TEUers on the trade.
HMM aims to have the largest market share on the Far East-Middle East trade by expanding services, adding a new loop to exploit pent-up Iranian demand after the lifting of economic sanctions.
Back from death's door, South Korea's No 2 box line, which reportedly restructured its debt last week, said its share of the trade will soon rise from eight to 13 per cent.
Its restructured services takes will take effect Thursday and the new service will be launched July 18.
The Korea-Middle East Express, a restructured service of the Korea-Middle East Service, will deploy six ships, three of 8,600 TEU and the three 6,800-TEU.
The accent will be on speed with the new service able to deliver cargo about two days earlier than the existing service.
The rotation of KME service is Gwangyang, Busan, Ningbo, Shenzhen-Yantian, Hong Kong, Port Klang, Jebel Ali-Abu Dhabi, Bandar Abbas, Karachi, Singapore and Hong Kong.
HMM will also deploy six 4,600-TEU ships to the newly added China-Middle East Express. The transit from Shanghai to Dammam will take 18 days.
The port rotation of CME, effective July 18, is Qingdao, Shanghai, Xiamen, Kaohsiung, Shenzhen-Shekou, Jebel Ali, Dammam, Bandar Abbas, Singapore and Hong Kong.
The CME service will add its coverage to Qingdao, Xiamen, Shenzhen-Shekou and Dammam, which were not included in the previous KMS service.
HMM will also enhance its service frequency by calling at Bandar Abbas and Jebel Ali, the region's major ports, twice a week instead of the existing weekly frequency. HMM plans to gradually deploy seven 13,100-TEUers on the trade.
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