News
Cargo volumes and passengers moving in ferry services linking South Korea with China have been both increasing. To meet the more stringent safety regulations for ships that were implemented recently, however, moves toward constructing newbuildings and launching new services are on the rise.
In the first half (January-June) of this year, 750,745 passengers were carried between the Asian economies, which went up 3.1% from the corresponding months of 2015. As for containerized shipments, 235,011 TEUs were handled, up 5.6%.
The routes between Incheon and Dandong, between Gunsan and Shidao and between Incheon and Weihai, all of which enjoyed favorable results, are making efforts to enhance their respective ferry services.
To take advantage of such brisk business trends, the Korea Water Resource Corporation (K-water) has established a partnership with an investor from China, Dandong Port Group Co., Ltd. The partners are now working hard to launch a new service linking the Seoul-and-Incheon area with Dandong. They also plan to increase the number of services operated every week between Gunsan and Shidao and between Incheon and Weihai from three to six.
As for newbuildings, agreements have been reached to build a total of six ferries so far. For example, it is scheduled that a 31,000-gross-ton passenger/cargo ferry boasting a capacity for accommodating 724 passengers and carrying 320 TEUs of containers and a maximum speed of 25 knots will be delivered to Weidong Ferry Co., Ltd. of China at the end of 2018. Meanwhile, Shandong-based Bohai Ferry has signed a letter of intent (LOI) to order a 34,000-gross-ton passenger/cargo ferry with a compatriot shipbuilder, Huanghai Shipbuilding Co., Ltd., which is expected to complete the newbuilding in October 2018.
