Hanjin, Qindao to open Chinese shipyard for repairs and maintenance

Hanjin, Qindao to open Chinese shipyard for repairs and maintenance    Seoul-based Hanjin Shipping and Qindao Shunhe Shipping have agreed to build a new dedicated shipyard in Qushan Island in Zhejiang, China, to be used to repair and maintain ultra-large vessels.
   The two companies have been in discussions since June, and expect to sign a memorandum of understanding later this month to confirm equal partnership, Hanjin said.
   The Korean ocean carrier said that upon completion, the shipyard will be 1,430 meters (4,691.6 feet) in length with three docks. The first two dock are expected to be opened by the end of 2006, while the third dock is scheduled to be open in 2008.
   “Hanjin Shipping, with the establishment of its dedicated shipyard in China, will benefit from prompt and efficient repair and maintenance of its fleet. Furthermore, Hanjin Shipping also expects to increase its business scope by accommodating other carriers that make calls to China region,” Hanjin said in a statement.