The Hindu Business Line : On full steam

Hanjin Shipping, already active in the sub-continent through its outfits in various cities and through calls in Jawaharlal Nehru and Tuticorin ports in India, Karachi in Pakistan and Colombo in Sri Lanka, proposes to further strengthen its presence in the region and has, accordingly, acquired 40 per cent stake, maximum foreign holding allowed under the law of the land, in Navigation Maritime Colombo (Pvt) Ltd which has served as the Korean shipping company's agent in Sri Lanka for the past 10 years or so. The new joint venture company is expected to help Hanjin step up its market share in the Bay of Bengal region covering east coast of India, Bangladesh and Sri Lanka. This is in line with Hanjin's global strategy to expand its own network in places holding out the promise of improved business opportunities.

Accordingly, the shipping line recently either joined hands with a local company or launched its own outfit in places such as Valencia (Spain), Antwerp (Belgium) and Bangkok (Thailand). In India, Hanjin has exclusive agency arrangement with Confreight Shipping.

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