HANSUNG SHIPPING TAKES OVER FORMER CHO YANG INTRA-ASIA SERVICES
Hansung Shipping, a South Korean regional carrier, has taken over the remaining intra-Asia services of fellow Korean line Cho Yang Shipping.
Cho Yang filed for bankruptcy proceedings in May and is facing liquidation.
Hansun said that it has already absorbed Cho Yang staff and its former Korea/Japan and Korean routes deparments. Hansung is also planning to serve the Korea/Southeast Asia route from October.
Cho Yang’s participation in the deep-sea services of the United Alliance, which covered the transpacific, Asia/Europe and transatlantic trades, was ended in May, when former alliance partners Hanjin Shipping, Senator Lines and United Arab Shipping Co. took over its vessel allocations.