HMM Buying Bigger Share In Busan Terminal

South Korean shipper Hyundai Merchant Marine (HMM) will acquire 50 percent ownership in the Hyundai Pusan New-Port Terminal.

Currently, Waska holds 50% stake in the terminal while PSA and HMM hold 40% and 10%, respectively.

HMM will buy 126.9 billion KRW (USD 112.7 million) worth of shares in a private equity fund. Korea Ocean Business Corporation (KOBC) will buy the other half of the shares.

According to the company spokesperson, "In the near future, the private equity fund Yuanta-HPNT will acquire 100% stakes of Waska’s current stake (50% of PHPNT) and then it will re-distribute the stakes to ‘HMM+KOBC (80%)’ and PSA (20%). 'HMM+KOBC’ and PSA will jointly operate Hyundai Pusan New-Port Terminal with equal stakes of 50%.”

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MSC &  Valencia Port joint venture

Swiss-based Shipping Company (MSC) has joined the Port of Valencia, Spain, on a pilot Internet-of-Things (IoT) project, heading by Traxens, a global solution developer for monitoring and coordinating multimodal transport.

The trial project, launched in September 2018, is aimed at operational efficiency improvement of the port due to easy monitoring of on-site road activity, improved fleet management as well as pre- and post-carriage management.

As part of the project, MSC Spain trucks have been equipped with Traxens’ IoT devices, allowing for near real-time tracking of vehicles movement. This can help port authorities to predict and manage potential congestions, as well as to anticipate truck arrivals at the gates.