News / SeaLead to launch new services, eyeing South Korea as a growth area

(from left): Ashok Pillay, SeaLead Regional MD (North and Southeast Asia), SeaLead global CEO Suleyman Avci and SeaLead’s South Korea CEO Yoo Jo-hyuk – credit SeaLead Shipping

Singapore-based liner operator SeaLead Shipping is eyeing South Korea as a growth area and aims to launch more long-haul services.

Having previously handled South Korean sales through an agency, SeaLead recently opened a branch office in Seoul and appointed former SM Line CEO Yoo Jo-hyuk to head its operations in the country.

SeaLead globalCEO Suleyman Avci said: “With the establishment of our South Korean office, we will develop the transpacific business and strengthen our capabilities, such as connecting South Korea to the Mediterranean, North Africa, East Africa, the Red Sea and the Middle East.”

And a spokesperson told The Loadstar: “SeaLead aims to grow in all East Asia countries, while South Korea is a priority, owing to it continuing to be a strong production and steadily rising export base in East Asia for several commodities, including consumer goods.

“We view South Korea as a growing market with stable economic and political conditions.”

SeaLead started as a Red Sea-focused feeder operator in 2017 and, since the Covid-19 pandemic has expanded to launch transpacific services.

Its Asia-US West Coast (AWC) service, operated in cooperation with TS Lines and deploying three vessels averaging 4,000 teu, connects Busan with Long Beach, calling at Ningbo, Shanghai and Qingdao.

According to Alphaliner, SeaLead is now the 13th-largest liner operator, with a fleet of 53 chartered vessels, amounting to 195,000 teu capacity, and has one 1,800 teu ship on order.

Last year, SeaLead transported 2.5m teu and appeared unfazed by the mounting competition from newcomers that have launched transpacific services to cash in on high freight rates resulting from the Red Sea crisis.

Its spokesperson said: “SeaLead’s entry into the transpacific trade is considered timely and our mission is to position ourselves as a responsible carrier focusing on service stability. Our customers are recognising us as a stable long-term partner in the trade.”

Alphaliner this week reported that the carrier was set to launch an Indian Ocean regional service connecting Pakistan, the UAE and Kenya.

The Duke service will feature a port rotation of Karachi-Jebel Ali-Mombasa-Karachi and be operated by two 1,100 teu ships, the first sailing scheduled for 26 December, with the Contship Uno.