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PostHeaderIcon SM Line Corporation snaps up box ship quintet from Hanjin Shipping

SM Line Corporation has acquired five 6,655 teu container ships that had been operated by Hanjin Shipping as it prepares to relaunch the liner's Asia-US and intra-Asia services.

SM Line Corporation has acquired Hanjin BremerhavenHanjin BudapestHanjin Port KelangHanjin Tianjin, and Hanjin Xiamen, according to shipbroking sources.

The vessels were built by Hyundai Heavy Industries in 2006 and were mortgaged to Hanjin Shipping’s banks when the liner collapsed.

SM Line Corporation has also purchased the 2009-built 4,253 teu Hammonia Pescara from Thomas Schulte Reederei and the 2007-built 1,118 teu Perla from Laeisz F Schiffahrts.

The company aims to launch its liner operations in April. It is in the process of securing P&I coverage for its vessels, according to sources.

South Korean daily Pulse has reported that SM Line Corporation could be prevented from starting operations in April by a lack of containers.

While SM Line Corporation reportedly considered taking over Hanjin Shipping’s containers, many have been seized by terminal operators over the line's alleged debts.

SM Line Corporation is now in discussions with container-leasing companies, according to a company official.

 
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