Push for
Diversification,
Globalization

Samsun Logix moves to expand operations for synergistic effect for its growth

Samsun Logix Corp. is an integrated shipowner/operator, moving bulk and unitized cargoes worldwide and trading companies, import/export raw materials/products in and out of South Korea.
The main activities include various Bulk Trades. The Cape/Panamax/Handymax/Handy Desk operates a fleet of some 60 to 100 timechartered tankers and one long timechartered tanker(3 years) and 8 own Bulk/LPG carriers. The ships are employed in world-wide trading especially in export market reflecting the dynamic nature of world-wide trade. The company's fleet carries commodities such as steel parcels, grain products, carbon fossil fuels, such as coal or coke, ores of all kinds, bauxite, petcoke, cement, scrap and various other bulk commodities.
The company maintains close partnership with the largest steel/steel product company in Korea. The company has been striving to provide best trading service including import of raw materials and export steel products worldwide.
Samsun Logix Corp. plans to expand the number of its fleet by building new ships and buying second-hand ships to cope with risks from rapid changes increased competition in the world shipping industry in line with its strategies that it should diversify its fleet portfolio to reduce exposure to risks.The shipping company plans to expand its operation to oil tankers and product carriers to minimize risks by diversifying its fleet portfolio, shifting from the current operation centered on bulk business pattern.
The company also will strive to conclude tie-ups with leading shipping companies through joint operations and joint venture for mutually complementary relationships under a win-win strategy.
In the non-shipping area, the company determined that it needs to expand into non-shipping areas in a move to disperse risk burdens and at the same time strengthening its current operations.In the area of steel trading, the company will pursue policies to become a maker, rather than just being a trading agent,
which is why the company has been executing direct transactions between makers and clients. Samsung Logix also has been going after steel assembly service business and set up a steel heat treatment plant in Vietnam as a foothold to enter Southeast Asian steel markets.
Samsun Logix has also been an importer of molybdenium and vanadium and sold them to customers in the country, but as the market becomes intensively competitive, the company began to look for customers abroad to diversify its market. The company has also been engaged in recycling business of steel cans and is in the position where it should look for overseas for markets to create synergy between domestic and abroad marketing.
The company has also been exploring for minerals in the country. With its technology for producing iron ores at the country's sole iron ores mine, Shinyemi Mine, and the development of technologies to extract molybdenium and zinc has paid off in producing synergy in raw material processing work.
The company will continue to seek chances to beef up its fleet and sale and purchase of ships including tankers and product and chemical carriers to the extent that it will become a leading worldwide tanker operator. The company will continue to strengthen its overseas network by set up local subsidiaries in North America and Europe, in addition to Greece and Vietnam where it already has branches.
The company will continue to look for tie-ups with foreign companies to spur globalization and make investments in profitable resources development around the world. The company will continue to diversify its businesses through M&As for synergistic effects.
The company will continue to make efforts to enhance its competitive edge through various means including the horizontal transfer of approval authorities to speedy decision-making; the company will seek to expand its synergy among departments; the company will continue to expand its overseas network to secure growth capability; the company will expand investment in non-shipping sector; The company will sharpen its global competitive edge by forming joint ventures and forming pools with world-renowned traders and makers. nw

Song Choong-won, Chairman of Samsun Logix.

Huh Hyun-chul,
president of Samsun Logix.