SOUTH Korean intra-Asia carrier Sinokor Merchant Marine has ordered four 2,500-TEU ships at compatriot shipbuilder Hyundai Mipo Dockyard (HMD), reports London's Loadstar.
The ships cost US$160 million and will be delivered between the second half of 2023 and the end of 2024.
Sinokor plans to deploy the ships on services between South Korea, Vietnam, and Indonesia.
Rates from South Korea to Vietnam went up three per cent and 10 per cent to Indonesia last year.
"We see demand in these trade lanes and we want to respond to the shortage of shipping slots," said Sinokor.
Sinokor's local rival, Namsung Shipping, is also looking for more business on south east Asian routes, ordering two similar ships from HMD.
Last year, Sinokor ordered twelve 1,900-TEU ships from HMD to be delivered by October 2023.
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