Hanjin signs MOU with Jacksonville Port

Hanjin Shipping and the Jacksonville Port Authority have signed a memorandum of understanding for the development project of Hanjin Shipping Jacksonville Container Terminal.

Scheduled to open in 2011, Hanjin Shipping Jacksonville Container Terminal will be the company’s first dedicated terminal on the US East Coast. The terminal will accommodate two berths operating an annual volume of approximately one million TEU.
According to Hanjin Shipping’s president & CEO Mr J W Park, the location of this dedicated terminal was primarily a strategic decision considering the expansion of the Panama Canal, which is due to be completed by 2015, and the recent rush of orders for mega-sized container vessels.

Hanjin Shipping currently operates eleven dedicated terminals worldwide (four domestic and seven overseas), and recently signed memorandums of understanding on developing a dedicated terminal in Rotterdam, Netherlands as well as establishing a joint-venture for terminal development in Tan Cang-Cai Mep, Vietnam. The company also plans to expand its terminals in China and the Mediterranean Sea region.

In other news, Hanjin Shipping will launch a new Far East-Middle East (FMS) service at the end of this month.
As the sole operator of this lane, Hanjin will deploy three 2,500 TEU vessels on the service, which will start calling Pusan > Shanghai > Chiwan > Singapore > Khor Fakkan > Jebel Ali > Karachi > Singapore > Chiwan > Pusan from October 27, 2007 on bi-weekly service.
Hanjin Shipping expects that the introduction of this new lane will provide additional capacity and increase its share of the Far East-Middle East market, where cargo volumes continue to grow.

Hanjin Shipping added that it will co-operate with other competent carriers to increase the frequency of this new service from bi-weekly to weekly basis as soon as possible.