Cho Yang Line
| Cho Yang Shipping Co. | |
|---|---|
| legal form | Ltd. |
| founding | 1961 |
| resolution | 2001 |
| Seat | Seoul , South Korea |
| Branch | shipping |
| Website | www.choyang.co.kr (inactive, English) |
Cho Yang Shipping Co., Ltd. was a South Korean container liner shipping company based in Seoul .
history
The company was founded in 1961. In the following year, the subsidiary Nam Buk Fisheries Company was founded whose fleet of fishing vessels grew to 14 units. In 1963 the subsidiary Jinju Ham Company started producing meat and fish products. The Samik Express Company, founded in 1965, was followed by a transport company that, in addition to land-based forwarding services, also operated as an NVOCC . Initially, a liner service was set up between Hong Kong and South Korea, the company also engaged in inner-Asian timber transport and acquired the first container handling area in Pusan at the beginning of 1971. The subsidiary shipping company Dong Young Shipping Company was founded in 1974 as a joint venture by the Hong Kong Swire Group to set up container services between South Korea, Japan and China.
Over the next few decades, Cho Yang expanded his services internationally. In August 1979, Cho Yang started its first container liner service between the Far East and Europe and joined the Far Eastern Freight Conference (FEFC). In December of the same year, another container liner service was opened between South Korea and Australia and Cho Yang joined the Australian and New Zealand / Eastern Shipping Conference (ANZESC) and the Australia Northbound Shipping Conference (ANSCON). In August 1981, Cho Yang expanded its route network to include a service between the Far East and the Mediterranean and joined the MED Club Conference. After Cho Yang started a line service between South Korea and New Zealand in June 1988, it left the FEFC and expanded its line network in January 1989 to include an outsider service between the Far East and Europe.
From January 1991 Cho Yang operated a worldwide round-the-world container line service in the TRICON consortium with DSR and Senator Lines . DSR and Senator merged in 1994 and the French Compagnie Maritime d'Affretement (CMA) and the Belgian CAST Container Line joined the TRICON consortium. In the mid-1990s, Cho Yang expanded its route network and services to China, North and South America and Japan. After the DSR-Senator was taken over by the South Korean shipping company Hanjin Shipping in 1997 , the joint global container service with Hanjin Shipping, DSR-Senator Line and the United Arab Shipping Company was converted to end-to-end services under the name United Alliance. At the beginning of 2001, Cho Yang ran into financial difficulties and was gradually pushed out of the community services. In May 2001, Cho Yang filed for its own restructuring, and in August 2001 the company was declared insolvent and bankrupt.
Individual evidence
- ↑ Cho Yang to be under legal management , In: Daily Shipping Newsletter , June 1, 2001
- ↑ PT Bang Berg: Second Korean Carrier Founders , In: Journal of Commerce , June 27, 2001
- ↑ Court orders Cho Yang to liquidate , In: Pacific Customs Brokers , August 28, 2001 (English)