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HMM and MSC join forces to buy Hanjin's US port stake

Hyundai Merchant Marine and Mediterranean Shipping Company join forces to buy Hanjin's interest in major US West Coast port operator Total Terminals International.

Photo: Stephen Carr/AP/Polfoto/Arkiv

Hyundai Merchant Marine (HMM) will enter into a joint venture to buy a large terminal share held by fellow South Korean carrier, Hanjin Shipping, which entered recievership in late August.

Together with Mediterranean Shipping Company (MSC), HMM announces in a press release that the two companies will join forces to acquire Hanjin's interests in Total Terminals International which operates two facilities in Long Beach and Seattle and handles close to one third of the cargo on the US West Coast.

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