7.9 C
Hamburg
Friday, October 7, 2022
Home News SM Merchant Marine provides extra capacity to support Korean SMEs

SM Merchant Marine provides extra capacity to support Korean SMEs

SM Merchant Marine has signed a Memorandum of Understanding (MoU) with the Korea International Trade Association to expand overseas export routes for domestic small and medium-sized enterprises (SMEs).

SM Merchant Marine, an affiliate of SM Group's shipping division, decided to participate in this ship support in order to fulfill its responsibilities as a national shipping company while domestic SMEs continue to suffer from shipping delays due to port congestion caused by Covid-19.

The Seoul-based shipping company is expected to support SMEs, providing them with sufficient shipping capacity at reasonable rates.

Since last year, SM Merchant Marine has been supplying ships to the market by putting all available ships on the route, including those that are re-shipped after the presidential election, according to the company's statement.

"As a national shipping company, it is natural to help Korean small and medium-sized enterprises that are suffering greatly from the unprecedented global shipping and logistics crisis," commented SM Merchant Marine CEO, Park Ki-hoon.

According to the agreement, the export volume will be allocated from SM merchant ships departing from Busan Port at the end of June.

Latest Posts

Hapag-Lloyd revises CGX service port rotation

German carrier Hapag-Lloyd has upgraded its China-German Express (CGX) service with the expansion of the port coverage, which will now include the ports of...

MABUX reports upward trend in bunker indices

Over Week 40, Marine Bunker Exchange (MABUX) global bunker indices turned to upward evolution with the 380 HSFO index increasing last week to US$502.55/mt,...

Maersk’s Performance Team deploys first Volvo electric trucks in Southern California

Maersk-owned Performance Team has deployed its first Class 8 battery-electric trucks from Volvo Trucks North America in Southern California in response to customer demand...

Drewry’s WCI loses three-fourth of pandemic gains despite record high US-Europe rates

The losses for the Drewry's World Container Index (WCI) keep stretching. The Index lost 8% to end at US$3,688.75 for the week, extending its...

Port Houston orders 26 hybrid Konecranes RTGs

Port Houston has ordered 14 hybrid Konecranes rubber tyred gantry cranes (RTGs) for its Barbours Cut Container Terminal and 12 hybrid Konecranes RTGs for...