Read Authentic Ratings for the Kmtc-Nhava-Sheva

In a significant development within the shipping sector, creditors are successfully offloading vessels from the defunct Hanjin Shipping line, demonstrating that even less desirable panamax boxships can attract interest. South Korean intra-Asia operator KMTC has made a strategic move by acquiring four sister ships, each constructed by Samsung Heavy Industries. The vessels, known as Hanjin Norfolk, Hanjin Piraeus, Hanjin Durban, and Hanjin Rio de Janeiro, are being purchased at a reported price of $5.3 million each, totaling $21.2 million for the quartet. This acquisition marks KMTC's ascendance in the competitive landscape of container shipping, following a year filled with notable consolidations in the industry. The operator's fleet expansion has propelled KMTC into the top 20 of Alphaliner's global liner rankings, with a total vessel capacity of 126,351 TEUs, placing it in 19th position worldwide. This development underscores KMTC's commitment to growth and enhancing its operational capabilities in the intra-Asia maritime market.