Spanish terminal to be Hanjin beachhead for West Africa and South America

A Spanish terminal it opened recently will be Hanjin Shipping's "beachhead" for an assault on markets in West Africa and South America currently dominated by European container lines, reported Maeil Business Newspaper.

The move by Hanjin Shipping of South Korea will threaten the dominant position in West Africa of Maersk Line of Denmark and CMA CGM of France. Maersk Line, the world's largest container carrier, and Hamburg Sud, a German specialist operator, have powerful positions in trade to and from South America.

Chief executive of Hanjin Shipping Kim Young Min said that Hanjin's size meant it had to concentrate on a few key areas. Even after a fleet expansion that is currently under way, it will operate only the world's seventh-biggest container ship fleet.

Hanjin's move is interpreted as attention on the West African and South American markets that were once neglected, is growing among large shipping companies and terminal operators.

Hanjin will barely manage to come in seventh in the world's shipping market even after the expansion.
(Source:www.cargonewsasia.com)