Independent journal on economy and transport policy
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Hyundai Merchant Marine will buy 20% of the capital of Total Terminals International
the transaction, of the value of 15,6 million dollars, will include a quota in the Hanjin Shipping TEC
January 19, 2017
the company of South Korean navigation Hyundai Merchant Marine (HMM) will buy 20% of the capital of Total Terminals International (TTI), the society that manages the container terminal to the Pier T of the port of Long Beach. At the end last year the South Korean Hanjin Shipping, than from september is in controlled administration, had tightened an agreement in order to yield own participation in TTI, pairs to 54% of the capital of the terminalista society, to the shipowning group Helvetic Mediterranean Shipping Company (MSC)(of 21 December 2016).
With the today's decision of own board of directors HMM will place side by side so MSC in the management of the Californian terminal. Hyundai Merchant Marine has specified that, besides 20% of the TTI, it will acquire also an analogous quota in the Hanjin Shipping TEC (HTEC), the society that supplies means of handling of the terminal, and that the transactions will have a total value of 15,6 million dollars.
In a note HMM has emphasized that "the volumes of traffic of the TTI will grow remarkablly since we will strengthen the Asia-USA services through the strategic cooperation with the 2M that it will begin to April". 2M it is the vesssel sharing agreement agreed from MSC with the Danish company Maersk Line with which to end 2016 Hyundai Merchant Marine an agreement of cooperation( of 12 December 2016 has signed).
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the company of South Korean navigation Hyundai Merchant Marine (HMM) will buy 20% of the capital of Total Terminals International (TTI), the society that manages the container terminal to the Pier T of the port of Long Beach. At the end last year the South Korean Hanjin Shipping, than from september is in controlled administration, had tightened an agreement in order to yield own participation in TTI, pairs to 54% of the capital of the terminalista society, to the shipowning group Helvetic Mediterranean Shipping Company (MSC)
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
