[ Three Major Shipping Co., taking a 40.5 Percent of Market ]

Three Major Shipping Co., taking a 40.5 Percent of Market Share on Kor
ea and North America Trades

The Korean three major oceangoing shipping companies handled 62 million
TEUs bound for North America during the first half of this year.
According to the Korean Shipowner’s Association, the container cargo
volume transported by Hanjin Shipping Co., Hyundai Merchant Marine Co.
, and Cho Yang Shipping Co., accounted for 40.5 percent of the total
market share for North America.
American shipping companies, American President Line (APL) and Sea-Land,
transported 28 million TEUs, taking 18.5 percent of the market share.
The 14 other countries, including Japan, which are engaged in liner ser-
vices to North America, handled a total of 63 million TEUs for a 41 per-
cent market share during the same period.
By companies, Hanjin handled 36 million TEUs during the first six months
for a market share of 23.5 percent which was the largest quantity among
the major carriers.
Hyundai Merchant Marine came next with 22 million TEUs and a 14.2 percent
market share, while Cho Yang ranked 12th with 4.3 million TEUs and 2.8
percent.
Hanjin had an average market share of 23.5 percent during the first half
of the year, as opposed to Hyundai Merchant Marine’s 14.2 percent
and Cho Yang’s 2.8 percent.
The three national flag shipping companies recorded an average market
share of 13.5 percent as compared to an average 39 percent for all Korean
flag carriers.
The low share was attributed to the three shipping companies’ increased
competition to expand the size of their fleets bound for North America,
one shipping expert said.
APL and Sea-Land had an averge share of 8.5 percent and 6.6 percent res-
pectively.