HMM Buys Hanjin’s Stake in Kaohsiung Terminal

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>

<< May 2019 >>
MTWTFSS
29 30 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 31 1 2

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >