Singapore: South Korea based Hanjin Shipping has revealed that it plans to open a tanker operating company in Singapore at the start of July. The new company, named 'Hanjin Overseas Tanker', will carry out independent overseas sales and ship operating business for the group's petroleum products carriers and chemical carriers.
Hanjin, which will invest $5m in the subsidiary, said in a statement that it "expects that the establishment of local subsidiary will strengthen overseas sales and expand tanker business, since Singapore is quickly emerging as the center of tanker business thanks to the recent relocations of tanker-related companies." [25/05/07]
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