Jacksonville port to build terminal for Hanjin

Jacksonville port to build terminal for Hanjin The Port of Jacksonville today took another major step toward the goal of becoming a key East Coast gateway for Asia-trade cargoes, signing a memorandum of understanding with Korea-based Hanjin Shipping to develop a $360 million container terminal at the port with capacity to handle 1 million TEUs of containerized cargo a year.
   There have been reports of talks between Hanjin and the port dating back more than a year, but today's agreement will allow the port to move forward with contract negotiations to finance, build and operate the new terminal.
   The agreement calls for the development of a 170-acre terminal that would be operational by 2011.
   It would be the second major new terminal developed by the port to handle all-water services from Asia. Construction is underway on a terminal for Mitsui O.S.K. Line that will be open in 2009 and have the capacity to handle 800,000 TEUs a year.
   'Today's agreement with Hanjin underscores Jacksonville's new role in global trade,' said Rick Ferri, Port of Jacksonville executive director. 'With this historic signing, not one, but two major players in the international shipping arena have given notice in a big way that Jaxport is the place to be.'
   The agreement was signed at Hanjin's headquarters in Seoul, South Korea, by representatives of Hanjin, the port, and the City of Jacksonville.
   'Hanjin is involved in developing new terminals around the world and we are pleased to begin talks with Jaxport,' said J.W. Park, Hanjin Shipping president and chief executive officer. 'Our aim in locating on the East Coast is to offer upgraded service, lower costs and improved schedules to our customers. The Hanjin Shipping Container Terminal, Jacksonville will definitely help us accomplish that.'