( – FocusAsia Media Ltd

SEOUL, Aug 8 (FAM) – Amid a slow recovery in the sector, South Korea’s container shipping companies are banding together to present a united front in the face of an increasingly competitive global market and in light of Hanjin Shipping’s demise.

According to a statement from the Korea Shipowners Association, the nation’s 14 boxship owners are scheduled to ink a memorandum of understanding as they seek to form a national shipping consortium, named Korea Shipping Partnership.