SM Line


HMM and SM Line swap slots on transpacific PSX/CPX services

HMM and SM Line will exchange slots on the transpacific PSX and CPX services starting from June 2024. The 2 South Korean carriers swap 300 teu each week on each service and the agreement will expire on 30 April 2025 with no automatic renewals. The PSX service calls at Shanghai, Kwangyang, Busan, Los Angeles, Oakland, Busan, Kwangyang, Incheon, Shanghai and is operated by HMM using 7 ships of 8,500 to 10,000 teu with an upgrade to 13,700 teu ships planned later this year. ONE, Hapag-Lloyd and Ya


2M terminates transpacific partnership with SM Line

The 2M/SM Line strategic cooperation agreement on the Far East-West Coast North America route will be terminated on 8 May 2022, one year earlier than scheduled. The 2M/SM Line cooperation started in April 2020 after HMM ended the 2M cooperation to join THE Alliance. The agreement was expected to run until March 2023, but has been prematurely terminated by the three parties. It will affect the TP-8/Orient/PS1 service jointly operated by the 2M and SM Line, with 6 ships of 10,600 teu to 11,290


SM Group builds stake in HMM after SM Line's failed IPO attempt

The Samra Midas (SM) group has built a small stake in HMM, after its wholly owned subsidiary SM Line added 613,438 shares in HMM for $14m on 29 December 2021, bringing its holdings to 2.41m shares or 0.49%. Another SM Group company, bulk carrier operator Korea Shipping holds 2.15m HMM shares, or 0.44%, bring the SM Group's total shareholdings in HMM to 0.93%. The move comes after SM Line ditched plans to raise up to KRW 846 Bn ($722m) from an initial public offering (IPO) on 3 November 2021. SM

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