SOUTH KOREA's Hanjin Shipping has taken another step in setting up a container terminal in Vietnam, after signing a Memorandum of Understanding with Saigon New Port Company, the operator of Vietnam's Cai Lai terminal, in Seoul.
The MoU represents a new roadmap for logistics business development in Vietnam, including the establishment of a joint venture to operate a container terminal in this rapidly emerging Asian market.
This development ties in with Hanjin's plans to accelerate its entrance into Vietnam's logistics industry. The shipping line intends to use the upcoming container terminal as a hub port for southwest Asia, given Vietnam's proximity to China.
"The MoU will help lay a firm foundation for investment in terminal business in the newly emerging market. The constant availability of berths is expected to help upgrade customer service with reduced logistics cost and improved schedule reliability," said Hanjin president and CEO JW Park in a company statement.
This latest MoU follows one signed last year to establish a dedicated container terminal in Rotterdam as part of future plans to expand its logistics bases in Europe, as well as in Asia, when the need arises and there is sufficient demand from the market.
Asian Shipper News
Login
