DANISH shipping giant Maersk has officially inaugurated its new PH5 container service at Incheon Port, establishing a direct maritime link between the Republic of Korea and key Southeast Asian markets including Vietnam and Thailand, with transits through China.
This strategic move aims to significantly enhance trade flows and connectivity in the Asia-Pacific region, reports Hong Kong's BNN Breaking.
The introduction of the PH5 service marks a significant milestone for Incheon Port, enhancing its status as a major logistics hub in Northeast Asia.
With five vessels, each boasting a capacity range of 2,544 TEU to 2,826 TEU, the service kicked off with the arrival of the Maersk Ningbo.
The main ports of call include Xiamen and Hong Kong in China, Laem Chabang in Thailand, and Cat Lai-Ho Chi Minh City in Vietnam. This expansion not only broadens Incheon Port's international reach but also strengthens its operational capabilities and service offerings to the global shipping and logistics community.
Anticipated to increase cargo volume by more than 60,000 TEU per year, the PH5 service is set to play a pivotal role in facilitating trade, particularly for small- and medium-sized enterprises (SMEs) within the region.
The Incheon Port Authority (IPA) highlighted the service's potential to help SMEs expand their export markets by providing more efficient and reliable shipping options.
In addition, the increased frequency of port calls to Vietnam and Thailand, now totalling 29, underscores Incheon Port's commitment to enhancing regional trade linkages and supporting the economic growth of Korea and its trading partners.
Source: shippingazette