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ruben.maritime

The first web2.0 spanish blog about Maritime Affairs. El primer blog web2.0 español sobre el sector marítimo.

Hanjin transfers assets to fund expansion

 SEOUL 08 December – South Korea’s largest shipping line, Hanjin Shipping, will transfer container terminals in Taiwan and Japan to another Hanjin entity to fund a ship expansion drive. The move is expected to raise $320M, according to a source, and the money will be used to buy five 10,000teu vessels and also spent on operating costs. Hanjin Shipping will transfer its terminals at Tokyo, Osaka and Kaoshiung to Hanjin Pacific, a venture it co-owns with Macquarie Korea Opportunities Fund. Under the 60/40 operating regime, Hanjin will retain control of the terminals.The ships have already been ordered from Samsung Heavy Industries and will be used to cater for rising cargo demand.

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