5/11/2014

by Danielle Shaw — last modified Nov 03, 2014 12:01 PM

Shipping line – Hyundai Merchant Marine will terminate its Southeast Asia – Australia service by the end of December.

A spokesperson for the company said no profits have been made recently due to a stagnant market and that “most of the people in the trade are saying the future is not so bright”.

Hyundai Merchant Marine is conducting studies into potential future services but told Lloyd’s List Australia that for the near future, there are no concrete plans for a replacement service.

An industry insider said that RCL will also be terminating its service arrangements for the Southeast Asia – Australia vessel sharing agreement, adding, “as far as I know, they will close all services in Australia.”

Lloyd’s List Australia contacted RCL for further comment however the company would not confirm any changes to its service at this stage, saying that as information becomes available it will inform the newspaper.

Hyundai Merchant Marine said its decision will not affect services to north and east Asia.

“We would very much appreciate your continued support on these services into the future,” said a company statement.

The final northbound express sailing to Southeast Asia will depart Brisbane on December 16 and will travel to Sydney, Melbourne and Adelaide before moving north.

The final southbound express sailing is expected to reach Brisbane December 15, Sydney December 18, Melbourne December 21 and Adelaide on December 24.

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