Hanjin ties up with Vietnam terminal operator

Hanjin ties up with Vietnam terminal operator Hanjin Shipping and Saigon New Port Co., the operator of Cai Lai terminal in Vietnam, signed a memorandum of understanding in Seoul Monday on a logistics business development project in the Vietnam area, including the establishment of a joint venture for container terminal development.
   J.W. Park, president and chief executive officer of Hanjin, said in a statement: '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.'