Independent journal on economy and transport policy
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Hanjin Shipping will put into effect the spin-off of the activities of bulk transport sand banks
Joint venture with the society of private equities Hahn & Co.
December 27, 2013
The South Korean shipowning society Hanjin Shipping will put into effect the spin-off of own activities of bulk transport sand banks through the constitution of joint venture with the compatriot Hahn & Company, society of private equities founded in 2010.
Hahn & Co. he will acquire for 300 billion won (283 million dollars) 76% of joint venture in which, meanwhile, he will invest 100 billion won. From part its Hanjin Shipping, that it will have the remaining property of 24% of joint venture, will equip the new society of 36 ships, of which seven unit for the which liquified natural gas transport. According to the forecasts, joint venture will become operating at the beginning of the next April.
Hanjin Shipping has specified that, thanks to the initiative, own relationship of indebtedness will come down from the 987 to last September to 673% at the moment of the operating start of joint venture.
While Hanjin Shipping has announced to have signed two contracts with the compatriot Korea Southern Power (KOSPO) of the duration respective of 10 and 15 years, with beginning from the second half of 2016 and from the second half of 2031, for the transport of 2,5 million tons of bitumoso coal per year. For the activity, that it will generate revenues for about 320 billion won, two ships portarinfuse Capesize will be employed.
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The South Korean shipowning society Hanjin Shipping will put into effect the spin-off of own activities of bulk transport sand banks through the constitution of joint venture with the compatriot Hahn & Company, society of private equities founded in 2010.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
