Taiyoung Shipping advances inland China transportation

Taiyoung Shipping, a coastal shipping company, contracted with the City of YingKou in China to form a joint-venture company named 'YingKou Taiyoung Container Transportation Limited Company' on November 16. The company is scheduled to last 30 years.

This is the first time for a Korean shipping company to establish a joint-venture company focusing on Chinese inland transportation.

The company will be composed of four companies, two Korean companies and two Chinese ones, and will be capitalized with USD 400,000 with the two Korean companies jointly holding a 51% stake. The company will be in charge of container cargoes, general cargoes, and specialized cargoes.

Taiyoung Shipping is a leading coastal shipping company in Korea/Japan and Korea/China trade and is based in Inchon. This new joint venture will allow Taiyoung to provide door to door service, a rare feat for a non global shipping and logistics company.

Currently, the Port of YingKou handles 200,000 TEU of container cargoes annually. The YingKou Taiyoung Container Limited Company plans to initially treat 8,000 TEU annually and to gradually increase that number.