Korean Company Extends Port of Seattle Berthing Lease

Press Release
Tuesday, December 11, 2012
Seattle Harbor: Photo credit Port of Seattle

The Port of Seattle Commission approves lease extension with Total Terminals International (TTI), a J/V subsidiary of Hanjin Shipping & Terminal Investment Limited (TIL).

The ten-year lease extension will secure continued volume and revenue at Terminal 46 for the next 13 years, through 2025.

Hanjin Shipping, headquartered in Seoul, South Korea, is a subsidiary of the Hanjin Group, a large transportation conglomerate that includes Korean Air Lines.  Hanjin is the largest container line in Korea and the 8th largest worldwide.  Hanjin has been operating in Seattle harbor since 1981, and have been at Terminal 46 since 1986.

Terminal 46 is an important component of the container terminal operations, generating approximately 20% of the container cargo currently passing through the port.  Cargo volumes at Terminal 46 are currently estimated to annually generate 3200 direct, induced and indirect jobs.  In addition, current activities at the terminal are estimated to annually generate over $370,000,000 in business revenue and over $24,000,000 in state and local taxes.

“We worked very hard to keep TTI in the Port of Seattle.” said Gael Tarleton, President of the Port of Seattle Commission.  “The cargo handled at T-46 means thousands of jobs and economic benefit for our region, which gets us closer to achieving the goals of the Century Agenda, calling for increasing freight volume at the port to 3.5 million TEUs in the next 25 years.”
 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil.

Bahrain US$35-M Land Reclamation Contract for GLDD

Provider of dredging services in the United States and a major provider of environmental & remediation services, Great Lakes Dredge & Dock Corporation (GLDD) says

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders.

Ports

Panama Canal to Celebrate 100 Years

To commemorate its centennial, the Panama Canal will host a series of events August 14-15 in Panama City to highlight the impact of the waterway during the past century.

AIS Data for Emissions Reduction

With emissions reduction firmly on the industry’s agenda, studies show that carrying out ship emission calculations, based on AIS data, can offer significant benefits.

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Container Ships

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders.

Box Ships Inc. Repays Commerzbank Loan

Greece-based Box Ships Inc. says it has repayed in full the outstanding amount under its loan agreement with Commerzbank AG dated July 29, 2011.  The outstanding amount of the loan,

New ICTF Boosts Crowley’s Efficiency

The opening of Florida East Coast Railway’s (FEC) new, state-of-the-art intermodal container transfer facility (ICTF) adjacent to Crowley Maritime Corporation’s Port Everglades, Fla.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1167 sec (9 req/sec)