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Wednesday, 04/05/2022, 18:44 (GMT +7)
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Sinokor still maintains shipping service to Russia
Sinokor is still maintaining the Busan-Vladivostok shipping service, while other shipping lines operating this route have suspended service to Russia after the Ukraine attack.
A container ship of Sinokor shipping lines (Photo: MarineTraffic)
Sinokor Merchant Marine - South Korea's regional carrier - is still maintaining the Busan-Vladivostok liner service, while other shipping lines operating this route have suspended service to Russia after the Ukraine attack.
Sinokor said that there are low security risks because Vladivostok, located in Russia's Far East, is far from a war zone.
The goods were transported by Sinokor shipping company from Busan to Vladivostok and then received by Russian shipping company FESCO and Sakhalin Shipping Company. Without sea freight services between Korea and Russia, many Korean small and medium-sized exporters will be greatly affected for their goods.
In contrast, HMM - Korea's leading shipping line - suspended shipping services to Russia's Far East in March. HMM has confirmed that cargo volume has been reduced amid the war, and cannot continue shipping to Russia due to international sanctions against Russia. Another Korean intra-Asia carrier, KMTC Line (Korea Marine Transport Company), has followed HMM in suspending the Busan-Vladivostok service.
Meanwhile, many large shipping lines such as Maersk, MSC, CMA CGM, Hapag-Lloyd and ONE have stopped calling at Russian ports, while Unifeeder shipping line is also transporting goods to Russia and is not affected by sanctions.
Xeneta analyst Peter Sand told Container News that the potential impact on the company's image is causing large corporations to stop doing business in Russia. "Reputational risk is seen high to many multinationals, making them close down in Russia," he points out.
Read more:
- Russian ships banned from calling at US ports
- European Union's ports ban Russian ships
- IACS Council withdraws the membership of Russian Maritime Register of Shipping
- Asian countries have stalled import-export trade and container shipping with Russia
- Container shipping lines suspend services to and from Russia
Source: Phaata.com (According to ContainerNews)
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