Chinese shippers 'fogged down' by worsening port congestion
Foggy weather at China’s key container ports of Shanghai and Ningbo has worsened the congestion, ...
Photo: Sinokor
By Alison Koo
South Korean regional operator Sinokor will launch a service to Russia’s Vladivostok port on Thursday.
The new service connects the Vietnamese port of Haiphong, the Chinese ports Shekou, and Xiamen, and South Korea’s main container port, Busan, to the Russian Far East gateway, complementing Sinokor’s existing Shanghai-Busan-Vladivostok routes.
Sinokor’s 1,091 teu Kobe Trader departs Haiphong on Thursday, expecting to arrive at the Vladivostok Sea Port Pervomaysky (VMPP) terminal on 29 March.
It is a typical regional feeder and shuttle service, collecting import and export cargo from South-east Asian manufacturing bases for Busan and the Russian Far East.
Haiphong, Shekou, Hong Kong, and Xiamen have abundant volumes of electronics, consumer goods, and intermediate goods, respectively. A service connecting these ports to Vladivostok offers high efficiency in terms of cargo flexibility and vessel capacity utilisation, said the carrier. It also demonstrates that Busan continues to serve as a hub for shortsea routes in the Russian Far East and North-east Asia.
Notwithstanding international sanctions against Russia amid its ongoing invasion of Ukraine, Sinokor is expanding its presence in the Russian Far East, laying to rest market talk that it could exit the container market amid its purchasing spree of very large crude carriers.
Sinokor has been doing business in Russia since 2008, opened an office in Vladivostok in 2018, and is said to be the largest non-listed shipping company in South Korea. It operates seven vessels, with a total capacity of around 11,000 teu, on regular routes to Russia. Sinokor reportedly ranks among the top three liner operators operating in Russia, in terms of total regular service capacity.
MSC, which has bought 11 of Sinokor’s containerships, is reportedly bankrolling Sinokor’s tanker purchases.
Linerlytica analyst Tan Hua Joo told The Loadstar: “Sinokor still controls over 80 containerships and has a further four on order. It will still retain a significant presence in the container market, even after the recent foray into the VLCC sector.”
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