CYL reopens Japan service July 14

Mr. Bae Soon, legal representative at Choyang Line, held a press conference on July 5 to explain the procedures of Choyang's court receivership, as well as near sea services re-starting in China, Japan and South East Asia.

Mr. Bae said that CYL will start its own services for the Hanshin and Kehin areas, by deploying private vessels in this trade starting July 14th.

He also said that it would reshuffle services in South East Asia in early August, European trade early next year, and U.S trade in the second half of this coming year.

CYL is scheduled to put two vessels into Japan services, which have been shut down temporarily, with the "Korean Pearl" serving in Yokohama, Tokyo, and Nagoya, and the "Korean Master" in Kobe and Osaka from July 14th.

Also, it is considering chartering vessels from Heung-A shipping as well as additional capacity from member companies of the Korea Near Sea Freight Council (KNFC).

By this plan, the Korean Pearl, a 333 TEU vessel, will call weekly in Pusan, Tokyo, Yokohama, Nagoya and Pusan from July 14th. The 126 TEU 'Korean Master' will serve in Pusan, Osaka, Kobe and Pusan, also on a weekly basis.

Mr. Bae said, "we are now cooperating with several industry allies and have established Tokyo agents to offer smooth services before launching the Japan service.”

"Especially, representatives from the Sumitomo warehouse visited our company and agreed to help with our Japan service. It encouraged us in this service," he added.

Choyang Line owes 600 billion won, and will file an inspection report to the courts by August 15th.