[ 7 Korean liners to start a new joint service ]

7 Korean shipping liners including Nam Sung Shipping Co., operating con-
tainer ships on Korea and Japan route will start a new joint service
by reshuffling their current joint service on a larger scale in order
to strengthen their global competitiveness.
According to KNFC (the Korea Nearsea Freight Corporation), the above
liner companies have felt it vitally important to secure the internatio-
nal competitiveness prior to the complete opening of Korea/Japan route
whereby they have agreed to establish a new joint service system.
KNFC said that the new joint service will be opeated by seven shipping
companies in all where the current 4 companies like Cho Yang Shipping
Co., Heung-A Shipping Co., Dong Young Shipping Co. and Han Jin Shipping
Co., will be combined with another 2 companies like Nam Sung Shipping
Co., and Pan Ocean Shipping Co., and in addition, Chun Kyung Shipping Co.,
will be added. Also this new service will be provided by six 100TEU
to 150TEU-class container ships’ daily employment.
In the meanwhile, on this route three seperate joint operations are curren-
tly being made IE one provided by Korea Marine Transport Co.,and Pan
continental Shipping Corp., and another operation by Cho Yang Shipping
Co./Heung-A Shipping Co., and another one by Pan Ocean Shipping Co
./Nam Sung Shipping Co., and the above expansion and reorganization for
this new joint service is expected to contribute to upgrading its quality.