News / Heung-A the latest Korean carrier to tell worried shippers: 'We're not sinking'

Another South Korean shipping line under financial pressure has had to write to customers to dispel market rumours of a second box carrier crash.

According to Alphaliner, intra-Asia liner and chemical tanker and logistics operator Heung-A has written to shippers to reassure them that its recent decision to terminate services on a number of intra-Asia routes was due to their “low profitability”, and it was part of “a normal restructuring process”.

Heung-A also denied it was in arrears on charter hire or other payments, including terminal and ...