Independent journal on economy and transport policy
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the failure and the state of liquidation of the Hanjin Shipping
Hyundai Merchant Marine has bought the terminals of the company to Tokyo and Kaohsiung
February 17, 2017
Today, to forty years from its foundation, shuts the history of the Hanjin Shipping, the company of South Korean navigation that give 1977 have grown until to become the main national shipowning society and have succeeded to enter in the top ten world-wide of the first marine carriers of the containerized transport going up until the seventh place of classify. Today, in fact, the central district Court of Seul has decreed the state of failure of the company that is placed in liquidation. The court has arranged the nomination of an official receiver that provvederà to the sale of the remaining assets of the company in order to refund the creditors, that they will have to introduce demanded of indemnification within the next 1° May.
While yesterday Hyundai Merchant Marine (HMM), than with the failure of the Hanjin has become the first company of navigation of Korea of the South, has undersigned a contract with the same Hanjin Shipping and Marine Terminals Investment Ltd. (MTIL) in order to buy the entire share capital of the terminals that Hanjin Shipping, through the Hanjin Pacific Corporation (HPC), that it is participated to 60% from Hanjin Shipping and to 40% from MTIL, stops in two terminaliste societies that manage container terminal in the ports of Tokyo and Kaohsiung. The acquisition will happen for 15 billion won (13,15 million dollars).
"This acquisition of the quotas the Hanjin Pacific - Hyundai Merchant Marine has explained - will serve to widen the harbour Network of the HMM and to strengthen our commercial competitiveness. Absolutely we are convinced that this will have a sinergico effect with consortium HMM + K2, that will be started first March". At the beginning of this year, in fact, HMM has constituted this consortium with the compatriots HAS the Asian Line and relative Sinokor to the services with Japan and ports( 3of January 2017).
Recently HMM had acquired also participation previously stopped from Hanjin Shipping in the container terminal Total Terminals International (TTI) of the port of Long Beach and in the container Total terminal Terminal International Algeciras (TTI Algeciras) of the port of Algeciras( 25of 19November 2016 and January 2017).
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Today, to forty years from its foundation, shuts the history of the Hanjin Shipping, the company of South Korean navigation that give 1977 have grown until to become the main national shipowning society and have succeeded to enter in the top ten world-wide of the first marine carriers of the containerized transport going up until the seventh place of classify. Today, in fact, the central district Court of Seul has decreed the state of failure of the company that is placed in liquidation. The court has arranged the nomination of an official receiver that provvederà to the sale of the remaining assets of the company in order to refund the creditors, that they will have to introduce demanded of indemnification within the next 1° May.
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- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
