HMM to Buy 20 Pct Stake in Total Terminals International

Image Courtesy: Port of Long Beach

South Korean shipping company Hyundai Merchant Marine (HMM) said that it plans to buy a 20-percent stake in Total Terminals International LLC (TTI), the terminal operator at the largest container terminal at Californian Port of Long Beach.

The company said that its board of directors approved the USD 15.6 million deal, which also includes the purchase of a stake in the equipment-leasing firm HTEC.

HMM added that it will receive the same port tariff rates with Geneva-based Mediterranean Shipping Company (MSC) and it will help reduce terminal handling costs and secure stable profitability.

The announcement was made following reports that the US Bankruptcy Court approved the USD 78 million sale of Hanjin Shipping’s stake in TTI to Terminal Investment Limited (TIL), an affiliate of MSC.

With the purchase of Hanjin’s 54 percent stake in TTI, which operates container terminals at the Port of Seattle and the Port of Long Beach, MSC became the sole owner of the terminal operator.

In late 2016, HMM and MSC jointly submitted an offer for the share in TTI, however, HMM decided to pull out of the joint bid and go for a minority stake in the operator.

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Seatrade Cruise Global

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Focusing on Solutions

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European Shipping Week 2017

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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.

More info

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