STX PANOCEAN Starts Korea-Malaysia Services

Since Nov. 11, STX PANOCEAN has run Korea-Malaysia container services (KMS) in cooperation with Samudera Shipping and TS-LINES.

The new KMS route runs Busan - Inchon - Qingdao - Hongkong - Port Kelang - Singapore - Hong Kong - Busan and takes 21 days.

The shipping companies committed three 1,500 TEU class ships to the service and plan to transport Korean products to Malaysia like electronics, automobile parts, and natural rubber.

With this, STX PANOCEAN has completed a three liner service connecting Korea, China, and Hong Kong

In 2004, STX PANOCEAN transported 169,000 TEU and recorded 0.1 billion dollars in sales. With its new services, it expects 0.2 billion dollars in sales in 2006 and 1 billion dollars in sales in 2010.

To this, earlier than scheduled, STX PANOCEAN plans to start container services for India and the Middle East beginning next year, which have shown rapid increases in cargo volumes.