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SM Line receives its first shipping containers

Apr 25,2017
Korea’s newest shipping line, SM Line received its first batch of containers on Saturday.

According to the company Monday, SM Line placed its first order of 10,430 20-foot containers with China International Marine Containers last month. Deliveries will continue over the following months.

Containers are a core asset for shipping companies.

Industry insiders expressed concern earlier this year that securing containers would be a problem for the new line. Most of SM Line’s assets came from the bankrupt Hanjin Shipping. Some of Hanjin’s containers were being held by foreign consignors and foreign ports that it owes money to.

SM has been using secondhand containers acquired from competitors or borrowed from lease companies.

“Our plan is to look into placing another order for new containers in the second half of this year according to future demand,” said the company in a statement.

SM Line’s first containers are also the first in Korea to be eco-friendly. The paint used in and outside is aqueous, which is less polluting. The wood used in the floorboards is bamboo, which is more eco-friendly than other woods such as apitong, which is used in many containers.

SM Line started services to the U.S. on Thursday and has been operating five routes to Asian countries such as Vietnam, India and China since early March.

BY SONG KYOUNG-SON [song.kyoungson@joongang.co.kr]