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HMM signs deal to set up JV with Singapore port operator

All News 11:30 September 03, 2020

SEOUL, Sept. 3 (Yonhap) -- HMM Co., South Korea's biggest shipping company by sales, said Thursday that it has signed a deal with Singapore port operator PSA International to set up a joint venture.

HMM said it will have a 42 percent stake in the HMM-PSA Singapore Terminal while the rest will be held by PSA International.

The deal will pave the way for HMM to secure its terminal in Singapore, the world's busiest container transshipment hub.

Currently, HMM has seven terminals -- one in South Korea and two each in the United States, Europe and Taiwan.

This photo, provided by HMM, shows the bow of its 24,000-TEU vessel being built at Samsung Heavy Industries' Geoje shipyard. (PHOTO NOT FOR SALE) (Yonhap)


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