HMM Buys Hanjin’s Stake in Kaohsiung Terminal

Illustration; Image Courtesy: Hanjin Shipping

South Korean shipping company Hyundai Merchant Marine has acquired a 100% stake in Hanjin Pacific Corporation’s terminal in Kaohsiung, a company representative told World Maritime News.

Featuring three container berths, the Taiwanese terminal was operated by HPC, a company 60-percent owned by former shipping giant Hanjin Shipping.

In February 2017, HMM entered into an agreement with Hanjin Shipping and Marine Terminals Investment Limited (MTIL) to purchase HPC’s terminals in Tokyo and Kaohsiung for a total of KRW 15 billion (USD 13.3 million) in an effort to expand its port network and strengthen its sales competitiveness.

With this move, HMM secured shares in four Hanjin terminals, including a 20 percent stake in terminal operator Total Terminals International LLC (TTI) and a 100 percent stake in the Spanish Algeciras terminal.

World Maritime News Staff

 

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2017 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

BWMTech North America

Are you operating to international standards? Clarify regulations. Plan BWMS integration…

read more >

NEVA 2017

The diversity of the Conference Programme is well-rounded by a broad spectrum of topics including Commercial Shipbuilding, Offshore and Marine…

read more >

LIQUEFACTION OF BULK CARGOES SEMINAR

GET TO GRIPS WITH:
– Mechanisms behind liquefaction
– Guidelines and regulations for bulk cargoes prone to liquefaction…

read more >

Seatrade Offshore Marine & Workboats Middle East

The largest event for offshore marine and workboat sectors in the region, Seatrade Offshore Marine & Workboats Middle East will, once again, serve as a meeting point for international industry professionals to come together and do business. Our 2017 show promises a wealth of networking opportunities, high-level discussions in our conferences on important industry trends, […]

read more >