HMM, SM Line and Pan Ocean launch first service under K-Alliance

The container ship Pos Ho Chi Minh of Pan Ocean (Photo: VesselFinder)

K-Alliance was established in 2020, with members being HMM, SM Line, Pan Ocean, Sinokor Merchant Marine and Heung-A. The alliance is the brainchild of the government, which has sought to cut duplication and fierce competition on the Korea-Southeast Asia routes. However, it takes some time to plan routes and cooperation.

The new service is named "CVT". This service has the following itinerary: Incheon - Qingdao - Shanghai - Ho Chi Minh City - Laem Chabang - Chiwan - Incheon. A ship will need 3 weeks to complete this itinerary.

Vessels deployed for this service include: Sky Rainbow 1,809 TEU from HMM, Jan 1,708 TEU from SM Line and Pos Hochiminh 1,809 TEU from Pan Ocean.

The CVT service will have its first Sky Rainbow sailing departing from Incheon on June 26.

Korea Ocean Business Corporation (KOBC), South Korea's state-backed shipping financial institution, said on June 15 that it will work closely with member carriers in the K-Alliance alliance. This includes joint building orders by member carriers, joint services and joint investments in overseas container terminals.

KOBC's director of business strategy, Lee Jin-gyun commented, “This is a significant first step in terms of pioneering new routes through the K-Alliance and strengthening the operational competitiveness of national shipping companies. It is meaningful that we cooperate to respond to logistics demands.”

Source: Phaata.com (According to CotainerNews)

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