Hanjin Shipping to construct dedicated terminal in Ba Ria-Vung Tau, Vietnam

Hanjin Shipping announced that it signed a deal to set up a joint venture with Saigon New Port to build a dedicated terminal in Ba Ria-Vung Tau, Vietnam.

VIP guests including G.S. Choi, Executive Vice President and Chief Executive of Hanjin Shipping Terminal Business Unit, Nguyen Van Hien, Vice Admiral of Vietnamese People Navy, Nghiem, Chairman of Saigon New Port Holding Company, Masakazu Yakushiji, Executive Vice President of Mitsui O.S.K. Lines, and Tony Chow, President of Wanhai Lines, attended the signing ceremony, which took place at Saigon New Port head office in Ho Chi Minh on February 4, 2009.

Hanjin Shipping Tan Cang-Cai Mep International Container Terminal, scheduled to open during the 1st quarter of 2011, will be located in Ba Ria-Vung Tau province. With two berths, it will handle approximately 1.15 million TEU annually.

G.S. Choi, Executive Vice President and Chief Executive of Hanjin Shipping Terminal Business Unit commented, ?onsidering the potential of the Vietnamese market, building a dedicated terminal in the region will allow us to ensure constant availability of berths for our vessels, upgrade customer service with reduced costs and improved schedules.?He added, ?n the long-run, we are confident that it will serve as a major hub port in South East Asia. Also, this will be a milestone for Hanjin Shipping terminal business to become a new driving force for the company.