APM Terminals signs deal with Hanjin Pacific

APM Terminals, the port operating division of the AP Moller-Maersk Group, and Hanjin Pacific (a part of South Korea's Hanjin Shipping terminal) have entered into an agreement.

According to the deal, Hanjin Pacific will take over APM Terminals' facilities at piers 76 and 77 in Kaohsiung (in Taiwan) and combine them into Hanjin's current operations at pier 78, a statement said.

On May 7 this year, Hanjin will take over the management and operations of the consolidated facilities. "Market conditions have changed and we have decided business-wise it makes sense to transfer our Kaohsiung pier 76-77 location to Hanjin. This will complement their existing facility well and satisfy the port master plan to integrate Kaohsiung facilities," said Martin Gaard Christiansen, CEO, APM Terminals' Asia-Pacific region.

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.

Follow Emirates 24|7 on Google News.