Tag: Hanjin

Algeciras terminates its new container terminal tender

Algeciras new container terminal

The Port Authority of Algeciras (La Autoridad Portuaria de la Bahia de Algeciras, APBA) has decided not to prolong any more the tender to build a new container terminal in the port, after the last extended term expired on 31 January 2018 and no bids have been received again, informs the APBA press service. The […]

HMM visited Algeciras to discuss TTI sale

HMM TTI Algeciras

Today the official delegation from Hyundai Merchant Marine (HMM) has visited Algeciras and met the executives of the Port Authority of the Algeciras Bay (APBA). At the working meeting the parties have discussed the procedure of the acquisition of the semi-automated container terminal Total Terminal International Algeciras (TTI Algeciras) by the South Korean shipping company. […]

Hanjin declared bankrupt, HMM consolidates its 4 terminals

Hyundai Merchant Marine (HMM) has entered into a contract with Hanjin Shipping and Marine Terminals Investment Limited (MTIL) to acquire Hanjin Pacific Corporation’s 100% stake in terminals in Tokyo and Kaohsiung, announces the company’s press release. Hanjin Pacific Corporation (HPC) is owned by Hanjin Shipping (60%) and Marine Terminals Investment Limited (40%) and operates container terminals in […]

HMM and MSC share Hanjin’s TTI in US

TTI Long Beach Terminal

Hyundai Merchant Marine Co. (HMM), announced last Friday its decision to buy a 20% stake in Total Terminals International LLC (TTI), an operator of Long Beach Terminal, California, wrote Business Korea. This news immediately follows the U.S. Bankruptcy Court’s approval of Hanjin Shipping Co.’s sale of its 54% stake in TTI to Terminal Investment Limited […]

HMM pulled out of the race for Long Beach Terminal

TTI Long Beach container terminal, California

South Korea’s Hyundai Merchant Marine Co. (HMM) has withdrawn from a joint bid with MSC for a controlling 54% stake in Total Terminals International LLC (TTI), an operator of Long Beach Terminal, California, writes The Wall Street Journal. In the beginning of December HMM and MSC formed a consortium to jointly acquire the stake in […]

HMM to buy TTI Algeciras

Hyundai Merchant Marine (HMM) was chosen as preferred bidder in the sale of Total Terminals International Algeciras (TTI Algeciras) in Spain, one of the lucrative assets of Hanjin Shipping, says HMM’s press release dated Friday. TTI Algeciras operates the second largest (after APMT’s facility) container terminal in the port of Algeciras, Southern Spain. Its annual […]

Korea Line doesn’t take Hanjin’s ships and terminal

On 22 November, Korea Line signed a deal to acquire the Asia-US business of Hanjin Shipping. The deal worth 37 billion won (USD 31.5 mln) involves the business network and client information of Hanjin’s Asia-US route, subsidiaries in 7 countries including the US, China and Vietnam, and 574 workers based in Korea and overseas, writes […]

Korea Line wins Hanjin’s Asia-US business

On Monday, Seoul Central District Court awarded Korea Line the first right to purchase the Hanjin’s shipping assets on Asia-US route and a 54% stake in Total Terminals International LLC, an operator of Long Beach Terminal, California, writes the Wall Street Journal today. As we wrote earlier, five companies submitted initial bids for these assets, […]

HMM and Korea Line bid for Hanjin Asia-US business

Hyundai Merchant Marine (HMM) and Korea Line, owned by SM Group, have submitted final bids for the Asia-US assets of bankrupt Hanjin Shipping, writes Lloyd’s Loading List. Seoul Central District Court, which oversees Hanjin’s bankruptcy procedure, is expected to announce the preferred bidder this week. The sale is to be concluded by November 21. Hanjin’s […]