Korean consortium launches Pusan/Posiet svc

A consortium of 5 Korean shipping companies serving Asia started a fixed-day weekly service between Pusan and Posiet from November 4th. Korea Marine Transport Co., Namsung Shipping Co., Dongnama Shipping, Pan Ocean Shipping and Heung-A Shipping utilized the 136 TEU "Korex Pusan" to cover Northeastern China, Hunchun, Yanji, and Tumen via Posiet.

An official said, "We are targeting the cargoes from Northeastern China right now because there aren't enough Russian cargoes to sustain this service. If the cargoes move to the Northeastern provinces of China through Posiet, it will save a lot of time and money compared to transport via Dalian."

This service will pave the way to Vladivostok and Vostochny in Russia where there are only a couple of shipping companies, he added.

This consortium will add several vessels depending on the amount of cargoes.

This service to Posiet was prepared to open based on the Korea/Russia maritime council held in April 1999. Back then, both countries agreed to select each corporation to serve in this trade with Russia choosing Fesco, and Korea a consortium.