AmericasPorts and Logistics

MSC takes Hanjin’s Seattle terminal stake

Photo of Sam Chambers Sam ChambersDecember 30, 2016
4 Less than a minute

Hanjin Shipping is selling its Seattle terminal to Mediterranean Shipping Company (MSC), according to the Seattle Times.

The deal is in addition to MSC’s buyout of Hanjin’s stake at a terminal in Long Beach. MSC will take over Seattle’s Terminal 46 via its Luxembourg affiliate, Terminal Investment Limited, a company that has interests in 30 ports around the world.

Since it filed for court receivership at the end of August, South Korea’s Hanjin has offloaded most of its assets. Its containership fleet, once the seventh largest in the world, now stands at just 44,321 slots.

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Photo of Sam Chambers Sam ChambersDecember 30, 2016
4 Less than a minute
Photo of Sam Chambers

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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