Hanjin wins bid for Spanish container terminal

Hanjin said Monday it has won a bid to develop a container terminal in the Port of Algeciras in southern Spain.

The terminal, scheduled to open in July 2010, will be 292,000 square meters, with three berths and 1,200 meters of quay. It is expected to handle about 1.5 million TEUs of container cargo on annual basis and is capable of accommodating vessels of more than 10,000 TEUs.

Being a dedicated terminal in Algeciras, neighboring with Africa, will allow us to set forth into the African market where economic growth is expected to come gradually, and also to secure an optimum hub port for making our presence in markets such as North Europe, the East Coast of the U.S. and South America, said J.W. Park, president and chief executive officer of Hanjin Shipping.

The Korean company said that, along with its dedicated terminal in Antwerp, Belgium, and another terminal in Rotterdam, to be opened in September 2008, the Spanish terminal will allow the company to secure major shipping and logistics bases in Europe and the Mediterranean region in addition to creating a new source of income through terminal operation.

Source:American Shipper