SM Line achieves goal of becoming trans-Pacific specialist

South Korean liner operator SM Line Corporation said it had achieved its goal of becoming a specialist trans-Pacific carrier after opening a solo service to the west coast of North America. This adds to its China Pacific Express service, launched in 2017, to connect Long Beach with various east Asian ports.

News ID: 80040

Date: 22 May 2018 - 12:36

Backed by the Samra Midas Group, which also owns Korea Line Corporation and Korea Shipping Corporation, SM Line was established in late 2016 to acquire the trans-Pacific and intra-Asia portfolios of the now-defunct Hanjin Shipping, once the country’s largest shipping company, but which went bankrupt in February 2017, reported by MANA correspondent.
The company's Pacific Northwest Service was launched with six 4,300 teu vessels that will depart from Pier 2 of Busan New Port. A ceremony attended by officials from Busan Port Authority was held on 17 May to mark the launch, with SM Qingdao departing the port.
SM Group chairman Woo Oh-hyeon said, "With the launch of this service, SM Line has become a specialist carrier for services to North America. I would like to ask for your support in raising the volumes of South Korean shipping companies, which will contribute to Busan's economic development and secure our global competitiveness."
The Pacific Northwest Service will have calls at Vancouver, Canada, Seattle in the United States, the Chinese ports of Yantian, Ningbo, Shanghai, Tokyo in Japan, and the South Korean ports of Busan and Gwangyang.
Currently, SM Line operates 11 services to the US east coast, the Middle East and elsewhere in Asia, with a total of 21 vessels deployed to these routes. Eventually, the company hopes to have 30 ships in its fleet.
By the end of 2018, it hopes to generate revenue of KRW1 trillion (USD920 million).
At the request of Busan's municipal authorities, SM Line is now based in South Korea's busiest container port.