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Hyundai Merchant Marine officially enters Vietnam's logistics market(Ocean freight Expert)

Aug 12 2019

Following the recent entry into the "THE Alliance", one of the world's three largest maritime alliances, Hyundai Merchant Marine has begun to enter the logistics industry, and strives to turn losses into profits in advance.(Ocean freight Expert)

It is reported that Hyundai Merchant Marine recently held a conference to enter the logistics business in Vietnam together with Busan Harbor Commune and Korean domestic logistics companies. Hyundai Merchant Marine decided to work with these companies to establish large logistics warehouses or inland container bases in northern and southern Vietnam.
It is reported that these companies are discussing the operation of the refrigerated logistics warehouse business in Anfeng Industrial Park, Bac Ninh Province, where Samsung Electronics Vietnam Factory is located, and Can Tho, Vietnam ’s largest black tiger shrimp farming and seafood processing export area. Hyundai Merchant Marine has recently begun investigations, and a joint local investigation will be carried out as early as next month to secure cargo owners in the area and identify business sites.
According to an analysis, Hyundai Merchant Marine's plan to enter the logistics industry is one of the business diversification strategies of Hyundai Merchant Marine representative Pei Zaixun who took office in March this year. It is reported that Pei Zaixun, who was born in the logistics company Pan-Korea Logistics, once emphasized that "business should be carried out from the perspective of the owner." Not only must we play a role in shipping goods, but we must also provide inland transportation, storage, and integrated services to shippers in order to be competitive.
Hyundai Merchant Marine plans to jointly operate refrigerated warehouses and logistics warehouses with cargo owners in Vietnam to ensure a stable cargo volume. Previously, Hyundai Merchant Marine signed a memorandum of understanding with Vietnam's largest integrated logistics company Saigon Newport Corporation (SNP) in late 2017 to develop port terminals and logistics facilities. Hyundai Merchant Marine President Yu Changgen said that the volume of Hyundai Merchant Shipping in Vietnam increased by more than 50% over the same period. The company intends to strengthen its partnership with SNP in order to achieve the common goals of both parties in the global logistics market.
Relevant persons in the maritime industry predict: "Although Hyundai Merchant Shipping is still at a loss, it ordered 20 ultra-large container ships last year, and its scale has continued to expand. Combined with the synergy of the logistics business and the maritime alliance, it is expected to be realized after the second half of 2020 Turn losses into profits. "

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