Archive for December 10, 2008

Hanjin and Jaxport Complete Lease Agreement

Per Jacksonville Business Journal:

Officials with the Jacksonville Port Authority and Hanjin Shipping Co. Ltd. put the finishing touches on a 30-year lease for 90 acres Wednesday.

The South Korean company’s $300 million container terminal at Dames Point, which is expected to be operating in late 2011, will create more than 5,600 jobs and have a nearly $1 billion annual impact, according to Jaxport officials.

Jaxport Executive Director Rick Ferrin said the deal is part of Jaxport’s goal of being a global gateway and having different types of cargo flowing through the port.

“Hanjin is a key development to that success and vision,” Ferrin said.

Hanjin Senior Vice President C.S. Choi said the company’s Jacksonville terminal will be the most efficient automated terminal Florida has ever seen.

Construction on the terminal is expected to take about two years once the permitting process is completed. It will be adjacent to the TraPac Container Terminal, which will open next month to handle Mitsui OSK Lines. The addition of Hanjin, which operates 200 ships, will triple the cargo-handling capacity at the port.

Another Hanjin senior VP, William Rooney, said one of the keys to Jacksonville landing the Hanjin terminal was the cooperation of Jaxport officials, as well as a visit they made to Seoul about a year ago.

When finished, the terminal will be able to handle up to a million containers annually.

Congratulations to the staff of Jaxport and the City of Jacksonville for making the needed improvements to the port and infrastructure, and for aggressively seeking out business worldwide.

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