Unable to get a slot on a container vessel, Lee Sang-hoon is considering using fishing trawlers docked for repair in the South Korean port of Busan to meet surging export orders for the car engine oil he sells to Russia.
“China is the black hole in this shipping crisis — all the carriers are headed there,” said Lee, owner of Dongkwang International Co. in Busan. The firm makes about 20 billion won ($17.60 million) in annual revenue.
“Those fishing boats out there could be an answer for us because we’re already one month behind schedule. That is, if we can iron out packaging issues,” Lee said, pointing out to empty fishing trawlers visible from his Busan office.