Ports and Terminals

HMM to Acquire Four Hanjin Terminals

HMM to Acquire Four Hanjin Terminals
Danny Gill

South Korea’s Hyundai Merchant Marine (HMM) announced that it has signed a contract with Hanjin Shipping and Marine Terminals Investment Limited (MTIL) to acquire Hanjin Pacific Corporation’s 100% stake for terminals in Tokyo and Kaohsiung.

The total acquisition price is about KRW 15 billion ($13.15 million) including a purchase and security deposit on the lease of the Tokyo port.

Hanjin Pacific Corporation (HPC) which is owned by Hanjin Shipping (60%) and Marine Terminals Investment Limited (40%) operates terminals at ports in Japan (Tokyo) and Taiwan (Kaohsiung).

With this acquisition, HMM will secure in total four of Hanjin’s terminals: TTI Long Beach (20%), Algeciras (100%), Tokyo (100%) and Kaohsiung (100%).

HMM said “This acquisition of Hanjin Pacific’s stake will work to expand HMM’s port network and strengthen our sales competitiveness. We greatly expect that it will have a synergistic effect with HMM+K2 consortium, which starts on March 1st.”

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Ports and Terminals
Danny Gill

Danny is currently a Contributing Writer for Airfreight Logistics and Logistics Manager (LM) and is quite the foodie. He’s always on the hunt for new and exciting dishes to sample, and is never one to back down from a spicy challenge. His travels have taken him around the world, and he’s been able to experience many different cultures (and food).

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