HMM Eyes Stake in Two More Hanjin Terminals

Illustration; Image Courtesy: Hanjin Shipping

South Korean shipping company Hyundai Merchant Marine has signed a deal with Hanjin Shipping and Marine Terminals Investment Limited (MTIL) to acquire Hanjin Pacific Corporation’s terminals in Tokyo and Kaohsiung.

Total acquisition price is about KRW 15 billion (USD 13.1 million) including a purchase and security deposit on the lease of the Tokyo port.

Hanjin Pacific Corporation (HPC), 60-percent owned by Hanjin Shipping and 40-percent owned by Marine Terminals Investment Limited, operates terminals at ports in Japan and Taiwan.

With this acquisition, HMM will secure a stake in four Hanjin terminals, including a 20 percent stake in terminal operator Total Terminals International LLC (TTI), a 100 percent stake in the Spanish Algeciras terminal, and now the 100 percent stake in each Tokyo and Kaohsiung terminals.

HMM said that it plans to complete the acquisition of Hanjin Pacific’s stake followed by detailed due diligence and regulatory approvals for each port.

“This acquisition of Hanjin Pacific’s stake will work to expand HMM’s port network and strengthen our sales competitiveness,” HMM said.

Additionally, the company informed that it expects that the acquisition will have “a synergistic effect with HMM+K2 consortium,” which starts on March 1.

In a separate announcement, Krishnapatnam Port Container Terminal (KPCT) informed that Hyundai Merchant Marine launched a direct weekly ASC service, which connects the Far East and South East Asia, from the terminal on February 17, 2017.

Inaugurated with a maiden vessel call by MV Hyundai Prestige, the service has a port rotation of Krishnapatnam (India) – Port Klang (Malaysia) – Singapore (Singapore)– Pusan – Ulsan (South Korea) – Shanghai – Hong Kong – Yantian (China).

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SNS2017 – The Southern North Sea Conference & Exhibition

EEEGR’s flagship Southern North Sea conference is the most important event for the energy sector in the East of England. Taking place over two days at the Norfolk Showground Arena in Norwich, SNS2017 will be the largest conference and exhibition EEEGR has ever delivered attracting upwards of 700 delegates from across the industry and supply chain.

Key industry players will gather at this event to discuss and debate issues, network to make new business contacts and re-establish relationships with existing clients.

Why should you attend?

  • Generate fresh leads and meet new contacts in a time and cost-efficient way.
  • Showcase your expertise and share your insights to impress your clients.
  • Meet senior-level delegates looking to learn and seek out new partners.
  • Account manage and liaise with your current clients attending – or bring them along yourself as an account management tool.
  • Months of intensive marketing and advertising to relevant markets ensuring a high level of attendance.
  • Numerous on the day and follow up advertising opportunities available to enhance your positioning.
  • Stay one step ahead of your competitors by being seen and visibly present at the event.
  • Develop your brand and status within industry by being billed as an event sponsor.

SNS2017 – 2 March

Day two of the conference is dedicated to ScottishPower Renewables Supply Chain Event for the East Anglia ONE Wind Farm Project.

ScottishPower Renewables is in the process of finalising its major contracts for the East Anglia One project, and is delighted to announce that these contractors will be attending the ScottishPower Renewables Supply Chain Event at the Norfolk Showground Arena on 2 March 2017.

Occupying the second day of EEEGR’s SNS2017 Conference and Exhibition, the ScottishPower Renewables Supply Chain Event will allow their contractors to engage with businesses and stakeholders in the East of England and further afield as quickly as possible to outline the skills they require and the business opportunities to be created by the project.

Information will be provided on the current status of the project by ScottishPower Renewables Managing Director, Jonathan Cole, and East Anglia One Project Director, Charlie Jordan. There’ll also be information on the scope of works to be carried out, explanations of how to get involved and the opportunity to meet representatives from Seaway Heavy Lifting, Navantia, Lamprell, Harland & Wolff, Roadbridge, Van Oord, Prysmian, VBMS, Nexans, DeepOcean, Peel Ports Great Yarmouth, Siemens and ABPorts.

Up to seven additional suppliers will also be attending, to be confirmed shortly. Opportunities will range from civil and electrical contractors, vessel and ports support, to technicians and logistics.

ScottishPower Renewables is starting construction this year, with the first turbines to be installed by 2019 and the project fully operational during 2020.

Full-access pass holders will be able to take full advantage of the presentations whilst there are also free exhibition-only passes which will give holders the opportunity to network with representatives from these suppliers at their stands. Delegates MUST register prior to the event to be allowed admission. Upgrades of exhibition-only passes may be permissible on payment of the appropriate fee.

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