News / South Korea's Panstar targets box and automotive volumes

South Korean ro-ro ferry operator Panstar Enterprise is eyeing more container and vehicle shipment business as it expands its fleet.

The company said on Thursday that it has secured an additional yard in Masan port that can store over 400 teu of containers, 250 cars and 600 tonnes of general cargoes.

The 10,267 square metre yard area in Dongyang Pier is close to the B-4 yard (7,929 square metres) at Masan Port Pier 4, which is already in use by Panstar.

Panstar hopes to increase its container volumes by around 70%, to 1,200 teu per month, targeting Japanese shippers after a reduction in direct Japan-Europe container liner services.

The newest addition to Panstar’s five-ship fleet is the Panstar Miracle, which was delivered from Dae Sun Shipbuilding & Engineering last April. The first locally built cruise liner, Panstar Miracle shuttles between Busan and Osaka and can also ship 254 teu of containers.

Panstar is the only stevedoring company in Masan port that operates international container liner services. With this expansion of its storage capabilities, Panstar expects to significantly enhance berthing stability and cargo handling efficiency. The company aims to increase its container throughput from the current 600–800 teu per month to over 1,000–1,200 teu per month.

Panstar said: “Investing in another container yard gives us the chance to simultaneously strengthen the competitiveness of liner services and build trust with shippers. We now have stable transhipment cargo from a major Japanese construction machinery manufacturer, while we work on securing additional cargoes on European and Southeast Asian routes. Furthermore, we’re working on attracting transhipments of construction machinery, as well as new and used cars through collaboration with compatriot shipping companies.”

Besides its core South Korea-Japan routes, Panstar is mulling launching routes to China’s Weihai port.

Premier Alliance will end its Japan-Europe liner service next month, although CMA CGM is filling the void with a standalone Ocean Rise Express service linking Japan and southern China to Europe.

Indonesian intra-Asia carrier Samudera Shipping and Japanese feeder operator Imoto Lines have launched a joint venture, Blue Ocean Shipping, to offer feedering services from Japan, in anticipation of transhipment demand.