South Korean shipowners will make a last-ditch effort to thwart attempts by steel-making giant Posco — a key customer — to establish its own logistics company.

The Korean Shipowners’ Association is planning a press con­ference next week to outline its ­objections.

Domestic shipping companies fear that if the move goes ahead, they will be cut out of high-value, long-term freight contracts amounting to around 80m tonnes annually.