MSC’s Seattle port deal questioned

MSC’s Seattle port deal questioned

The Port of Seattle has demanded Mediterranean Shipping Co (MSC) pay a security deposit before it takes over the running of Terminal 46, sold by bankrupt Hanjin Shipping.

The port has asked a judge to block the sale until MSC pays a one-year lease charge of $11.25m.

MSC and its subsidiary Terminal Investment Limited agreed in December to pay $78m to purchase Hanjin’s controlling stake in Total Terminals International, which controls terminal operations in Long Beach and Seattle.

 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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