# EUKOR > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/EUKOR > Markdown URL: https://mediated.wiki/source/EUKOR.md > Source: https://en.wikipedia.org/wiki/EUKOR > Source revision: 1319388951 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{short description|Shipping company}} {{Infobox company |logo= File:Eukor brand.png |image= File:Morning Chorus at Tilbury.jpg |type= |foundation=2002 |location=[Lotte World Tower](/source/Lotte_World_Tower), [Seoul](/source/Seoul) |locations= |area_served= |industry=[Transport](/source/Transport) |products = |num_employees= 480 |homepage=[https://www.eukor.com www.eukor.com] |name = EUKOR }} '''EUKOR''' is a South Korean specialised [Roll-on/roll-off](/source/Roll-on%2Froll-off) shipping line. The company's specialize in the sea carriage of new and used cars and High & Heavy cargo. The name of the brand '''EUKOR''' comes from a [portmanteau](/source/portmanteau) that combines the words "Europe & Korea". The company is owned by [Wilh. Wilhelmsen](/source/Wilh._Wilhelmsen) along with [Wallenius Lines](/source/Wallenius_Lines), [Wallenius Wilhelmsen Logistics](/source/Wallenius_Wilhelmsen_Logistics), [American Roll-on Roll-off Carrier](/source/American_Roll-on_Roll-off_Carrier), and [United European Car Carriers](/source/United_European_Car_Carriers). ==History== The company was established in the 1980 as the [RORO-Car Carriers](/source/Roll-on%2Froll-off) arm of [Hyundai Merchant Marine](/source/Hyundai_Merchant_Marine). Its first car carrier vessel was purchased and named ''mv Hyundai No.1''. In the following years, three shipping lanes to Europe, Australia, and India were opened.{{cite web |date=29 August 2002 |title=Wallenius Lines and Wilh. Wilhelmsen acquire Hyundai Merchant Marine's car carrier division for US$1.3 billion |url=http://www.mondaq.com/content/pr_article.asp?pr_id=558 |website=www.mondaq.com}} In August 2002, [Wilh. Wilhelmsen](/source/Wilh._Wilhelmsen) and [Wallenius Lines](/source/Wallenius_Lines) each purchased 40% of the equity. [Hyundai Motors](/source/Hyundai_Motors) and [Kia](/source/Kia) split the remaining 20% equity stake.{{cite web |date=August 13, 2002 |url=https://www.freightwaves.com/news/hagman-will-head-new-korean-car-carrier|title=New Korean Car Carrier |publisher=American Shipper }} It was re-branded to EUKOR. The two Korean carmakers continued to ship their products exclusively through the new joint venture.{{cite news |first=Bruce |last=Barnard |date=July 14, 2016 |url=https://www.joc.com/regulation-policy/transportation-regulations/us-transportation-regulations/wallenius-wilhelmsen-pays-989-million-settle-us-antitrust-probe_20160714.html |title=Wallenius Wilhelmsen pays millions to settle US antitrust probe |publisher=[The Journal of Commerce](/source/The_Journal_of_Commerce) |access-date=January 29, 2018 |archive-date=December 11, 2021 |archive-url=https://web.archive.org/web/20211211110816/https://www.joc.com/regulation-policy/transportation-regulations/us-transportation-regulations/wallenius-wilhelmsen-pays-989-million-settle-us-antitrust-probe_20160714.html |url-status=dead }} In order to obtain antitrust approval from the [European Commission](/source/European_Commission), the parties agreed to terminate the WALLNYK{{cite web|url=https://www.joc.com/maritime-news/wwl-gets-green-light-hmm-auto-unit-buy_20021201.html|title=WWL gets green light for HMM auto unit buy|website=www.joc.com|access-date=2018-01-30|archive-date=2021-12-11|archive-url=https://web.archive.org/web/20211211143911/https://www.joc.com/maritime-news/wwl-gets-green-light-hmm-auto-unit-buy_20021201.html|url-status=dead}} collaboration with [Nippon Yusen Kaisha](/source/Nippon_Yusen) and agreed not to enter into any similar agreements with any competing carrier on the routes in question, without prior Commission consent.{{cite web |title=Korean Success Story: EUKOR Car Carriers |url=https://bridgingculturekorea.blogspot.co.uk/2007/11/korean-success-story-eukor-car-carriers.html |website=bridgingculturekorea.blogspot.co.uk|date=18 November 2007 }} In 2015, China fined EUKOR 284 million [yuan](/source/yuan_(currency)) ($42.5 million) for engaging in a cartel. A similar fine was applied to its sister company WWL.{{cite news |last=Goh |first=Brenda |date=December 28, 2015 |title=China fines seven shipping firms $63 million for price fixing |url=https://uk.reuters.com/article/uk-china-shipping-fines/china-fines-seven-shipping-firms-63-million-for-price-fixing-idUKKBN0UB0CE20151228 |archive-url=https://web.archive.org/web/20180130091236/https://uk.reuters.com/article/uk-china-shipping-fines/china-fines-seven-shipping-firms-63-million-for-price-fixing-idUKKBN0UB0CE20151228 |url-status=dead |archive-date=January 30, 2018 |publisher=[Reuters](/source/Reuters)}} In April 2017, a new ownership structure was created under which [Wallenius Wilhelmsen Logistics](/source/Wallenius_Wilhelmsen_Logistics), EUKOR and [American Roll-on Roll-off Carrier](/source/American_Roll-on_Roll-off_Carrier) were merged. The new company will be called Wallenius Wilhelmsen Logistics ASA.{{Cite book |last=Theotokas |first=Ioannis |url=https://books.google.com/books?id=yVKWDwAAQBAJ&dq=EUKOR+shipping+line&pg=PA17 |title=Management of Shipping Companies |date=2018-04-19 |publisher=Routledge |isbn=978-1-317-27958-7 |language=en}} ==Accidents== On May 24, 2004, the EUKOR operated vessel ''Hyundai No.105'', sailing from South Korea to Germany, collided with a Japanese very large crude carrier (VLCC) close to [Singapore](/source/Singapore) Sentosa island in the [Malacca Strait](/source/Malacca_Strait), one of the world's busiest sea passages. As a result the Hyundai No.105 sank with a total loss of over 3,000 brand new Hyundai/Kia cars and an additional 1,200 used Japanese cars stowed on board. The crew was rescued but the ship could not be salvaged.{{cite web |url=http://europe.autonews.com/article/20040524/ANE/405240807/ship-carrying-4190-vehicles-sinks-off-singapore |date=May 24, 2004 |title=Ship carrying 4,190 vehicles sinks off Singapore; Hyundais, Kias were bound for Europe |website=Automotive News Europe }} On January 6, 2010, the British flagged ''mv Asian Glory'', carrying about 2,400 cars, most of them new Hyundai and Kia models, was sailing from South Korea to [Jeddah](/source/Jeddah), Saudi Arabia when it was captured by Somali pirates in the [Gulf of Aden](/source/Gulf_of_Aden).{{cite web|url=https://www.motor1.com/news/19447/somali-pirates-hijack-ship-filled-with-kias-and-hyundais|title=Somali Pirates Hijack Ship Filled with Kias and Hyundais|website=www.motor1.com}} Asian Glory had a crew of 25, including 8 Bulgarians and 5 Indians, who were finally released in June 2010 following a ransom payment of an undisclosed amount that intelligence reports indicated was close to the $15 million that the pirates were demanding; allegedly, an amount similar to the ship's hull insurance cost and the value of the cargo on board.{{cite web |url=https://automotivelogistics.media/news/pirates-release-asian-glory-car-carrier |title=Pirates release Asian Glory car carrier |date=16 June 2010 |website=Automotive Logistics}} On April 19, 2014, a fire started on ''mv Asian Empire'' off the coast of Japan, when the vessel was en route from [Ulsan](/source/Ulsan) to [Balboa, Panama](/source/Balboa%2C_Panama). All 24 members of the crew had to be evacuated.{{cite web |url=https://automotivelogistics.media/news/crew-abandons-fire-stricken-eukor-car-carrier|title=Crew abandon fire stricken Eukor car carrier |date=23 April 2014 |website=Automotive Logistics}} A second fire broke out hours later; the reasons were investigated but remained unclear. Two salvage tugs had to be hired to tow the vessel to China for dry docking. In 2016, Brazilian regulators raised a similar claim and required EUKOR to pay 15.9 million [reais](/source/reais).{{cite web |url=https://automotivelogistics.media/news/wwl-eukor-settle-brazils-competition-regulator|title=Eukor settle Brazil competition regulator |date=15 November 2016 |website=Automotive Logistics}} In 2017, a further suit was brought by the U.S. [Federal Maritime Commission](/source/Federal_Maritime_Commission) for price fixing and conspiracy.{{cite news|url=https://uk.reuters.com/article/us-fiat-chrysler-shipping/fiat-chrysler-sues-shippers-over-alleged-price-fixing-idUKKBN1CS2J1|archive-url=https://web.archive.org/web/20171024003642/https://uk.reuters.com/article/us-fiat-chrysler-shipping/fiat-chrysler-sues-shippers-over-alleged-price-fixing-idUKKBN1CS2J1|url-status=dead|archive-date=October 24, 2017|title=Fiat Chrysler sues shippers over alleged price fixing |date=October 23, 2017 |publisher=Reuters }} On February 21, 2017, the ''mv Morning Composer'' was hijacked by Libyan pirates off the coast of [Misurata](/source/Misurata). The vessel was carrying 3,500 Korean brand new cars and 1,500 used vehicles.{{cite web|url=http://www.seatrade-maritime.com/news/middle-east-africa/eukor-car-carrier-seized-in-libyan-waters.html|title=Eukor car carrier seized in Libyan waters |first=James|last=Henderson |date=21 February 2017 |publisher=Seatrade Maritime News }} The crew of 12 Filipinos, 10 Bulgarians and 2 Ukrainians were unharmed and freed to restart the journey briefly after the Libyan military intervened on 22nd early morning.{{cite web |url=https://www.fleetmon.com/maritime-news/2017/17291/eukor-car-carrier-released-libya-update/ |date=21 February 2017 |title=EUKOR car carrier released, Libya: UPDATE|website=FleetMon.com}} On 28 May 2019, while alongside [Ulsan](/source/Ulsan) port, a sudden fire broke out on a car deck of the EUKOR operated ''mv Platinum Ray''. The immediate action of the crew and fire brigades could contain the fire and extinguish it within five hours, limiting the damage to only 69 cars of the over 2,000 stowed on board.{{cite web |url= https://www.vesseltracker.com/en/Ships/Platinum-Ray-9210438.html |date=May 28, 2019 |title=Platinum Ray on fire |website=Vessel Tracker }} ==Fleet== The company tonnage comprise 80 [PCC-PCTC](/source/Roll-on%2Froll-off) vessels transporting about 4 million cars annually, mainly from [South Korea](/source/South_Korea) to the US and Europe. The main business consists in the maritime transport and distribution of cargo such as automobiles, trucks, trailers, [Mafi roll trailers](/source/Mafi_roll_trailer), heavy construction machineries and further types of rolling freight. Since 1999, when ''mv Asian Destiny'' was launched, the fleet started to include ships capable of carrying over 6,000 cars per voyage.{{cite web |date=May 29, 2012 |title=South Korea: EUKOR Orders New Car Carriers from Hyundai Heavy |url=https://worldmaritimenews.com/archives/55951/south-korea-eukor-orders-new-car-carriers-from-hyundai-heavy/ |publisher=World Maritime News |access-date=January 29, 2018 |archive-date=January 30, 2018 |archive-url=https://web.archive.org/web/20180130013844/https://worldmaritimenews.com/archives/55951/south-korea-eukor-orders-new-car-carriers-from-hyundai-heavy/ |url-status=usurped }} Over half of the fleet's vessels include the word ''"Morning"'' in the first part of their names. The tonnage name idea is linked to the fact that Korea started to be internationally referred as "[the Land of Morning calm](/source/Names_of_Korea)",{{cite web |date=26 November 2018 |title=The Land of the Morning Calm |url=https://en.unesco.org/courier/news-views-online/land-morning-calm-unesco-courier |website=Unesco.org}} and its ruling monarchy the [Joseon](/source/Joseon), became known abroad as the "Morning Dynasty", when a book written in 1886 by [Percival Lowell](/source/Percival_Lowell) obtained large success in the [United States](/source/United_States) in narrating the history of the country. ==See also== *[American Roll-on Roll-off Carrier](/source/American_Roll-on_Roll-off_Carrier) *[Wilh. Wilhelmsen](/source/Wilh._Wilhelmsen) *[Hyundai Glovis](/source/Hyundai_Glovis) *[Nippon Yusen Kaisha](/source/Nippon_Yusen) *[Siem Shipping](/source/Siem_Shipping) *[United European Car Carriers](/source/United_European_Car_Carriers) *[KESS - K Line Europe Short Sea](/source/KESS_-_K_Line_Europe_Short_Sea) *[MV Asian Glory](/source/MV_Asian_Glory) ==Ships gallery== File:Asian King, Fremantle, 2016 (03).JPG|Asian King File:Car carrier Morning Concert 2010-05-29 1.jpg|Morning Concert File:Car carrier Morning Caroline.jpg|Morning Caroline File:Car carrier MORNING CLASSIC en mer de Casabanca.jpg|Morning Classic File:MORNING CONDUCTOR (Ferry).jpg|Morning Conductor File:Car carrier Morning Margareta.jpg|Morning Margareta File:Panama Canal - Eukor Car Carrier.jpg|Morning Melody File:2013-05-03 Fotoflug Nordholz Papenburg HP 1418.JPG|Morning Lena ==References== {{Commonscat}} {{Reflist}} Category:Shipping companies of South Korea Category:companies based in Seoul Category:Transport companies established in 2002 Category:South Korean brands Category:Car carrier shipping companies Category:Ro-ro shipping companies --- Adapted from the Wikipedia article [EUKOR](https://en.wikipedia.org/wiki/EUKOR) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/EUKOR?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.