HMM buys Kaohsiung terminal

Hyundai Merchant Marine (HMM) is reported to have bought a 100% stake in Hanjin Pacific Corporation’s terminal in Kaohsiung, Taiwan .The three-container berth terminal was operated by HPC, a company that had been 60%-owned by Hanjin Shipping. HMM signed a deal with Hanjin Shipping and Marine Terminals Investment Limited in February to acquire HPC’s terminals in Tokyo and Kaohsiung, paying KRW15bn ($13.3m). HMM now has shares in four Hanjin terminals, including a 20% holding in Total Terminals International and a 100% stake in Algeciras terminal, Spain.