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Hanjin inks deal for new terminal at Jacksonville

Seoul: Hanjin Shipping yesterday signed a 30-year lease agreement with Jacksonville Port Authority to build a container facility at the Dames Point Marine Terminal in North Jacksonville with the option for further expansion. The facility, spread over approximately 90 acres is expected to cost in the region of $300m and is slated to open for business in late 2011.

The new terminal will be located adjacent to the nearly completed TraPac Container Terminal at Dames Point being built for Tokyo-based Mitsui OSK Lines, due to open for business in January 2009.

"This is the one-two punch we have been working toward," said JAXPORT executive director Rick Ferrin. "TraPac put us on the map. Hanjin makes JAXPORT a major player in Asian and European trade and together the new terminals help fulfil our mission of bringing jobs and opportunity to the region."

Hanjin Shipping's US subsidiary, Total Terminal International, presently runs dedicated terminal operations in Seattle, Long Beach and Oakland. The proposed Hanjin Container Terminal will be Hanjin's first dedicated US operation outside the west coast, a strategic move meant to capitalize on the expansion of the Panama Canal and the anticipated increase in container traffic along the east coast.  [12/11/08]

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