Delegates from HUAL visit Korea

HUAL AS, a Norweigan car-carrier company, held a reception with a participation of several shipping companies as well as shippers in the Ritz-Carlton Hotel in Seoul, November 13.

Mr. Karl A. Terjesen, president of HUAL, revealed in a press conference that the importance of Korean cars and their markets led them to visit Korea. As Daewoo Motors was sold to GM, they are negotiating with GM Daewoo for a new contract to carry cars.

Regarding the influence on Korean markets by Ro-Ro Korea, which absorbed Hyundai Merchant Marine's car-carrier division and was composed of Wallenius Lines, Wihellumsen Lines, Hyundai Motors and Kia Motors, HUAL thought not much.

Cars occupy the lions' share, 50%, of all HUAL transports. Second-hand vehicles followed with 30% share. And then heavy cargoes and project cargoes with 20%. Especially, second-hand cars have emerged with more importance in Korean market, said Mr. Terjesen.

Last year, HUAL contracted with COSCON, the Chinese national shipping company, on deep-sea transportation as a way of expanding their services. Next year, they will deploy three newly chartered vessels and plan to order another 2 - 3 new vessels.

HUAL, operating 45-50 vessels worldwide, was able to react swiftly to the situation in part due to its being a small company.