The Korean intra-Asia specialist carrier KMTC has closed its ‘KHX’ South Korea to Vietnam service.
The loop which called at Shanghai, Busan, Kwangyang, Haiphong, Xiamen and Shanghai, was shut down this week in what appears to be aftershocks of the recent STX PanOcean insolvency.
STX PanOcean used to be active on several small-scale and medium-sized Korea to Vietnam services, where (depending upon the individual service) it operated alongside its compatriots Hanjin, Heung-A, Sinokor and KMTC.
The recent withdrawal of a number of STX-operated charter ships, has now forced some streamlining and consolidation of these services and thus lead to the closure of the ‘KHX’.
One of the two ships that used to trade on the closed ‘KHX’, formerly on charter to STX PanOcean, is now idle at port Incheon. The other ‘KHX’-vessel was contributed by KMTC and has since ben re-deployed within the carrier’s network.
From a KMTC perspective, the Korea to Vietnam trade remains covered by seven services.
On at least two Korea to Vietnam services, Hanjin has stepped up its involvement and replaced withdrawn STX PanOcean vessels with Hanjin-operated ships.