EnKorea Line has beaten Hyundai MM to be preferred bidder for Hanjin Shipping’s Asia-to-U.S. operations. This means MSC won’t be the buyer of the Long Beach port assets, and Korea Line enters container shipping for the first time. Hanjin Shipping had 7.1% of Asia-to-U.S. volumes in the 12 months to August 31, or 96,000 TEUs per month. Korea Line may struggle to replicate those volumes with five vessels, but may compete aggressively for market share nonetheless.
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