Release Date: 09 October 2006
Release ID: 1022
Hanjin Shipping has established a wholly-owned local company in India, which starts operations from April, 2007.
Approximately USD 900,000 has been invested in 'Hanjin Shipping India PVT LTD,' the new company will be called, which will reshuffle its sales organization.
The new local company is designed to secure a strategic foothold in the large Indian market with a huge growth potential, and proactively respond to the expanding market from a long-term perspective, and make logistics operations more efficient.
Currently, Hanjin Shipping operates one intra-Asia service and one Asia-Europe service calling at Mumbai and Nhava Sheva. A new Singapore-India-US East Coast service is due to start from November, 2006.
With its container traffic growing 15-20% annually in recent years, India is forecast to grow rapidly and emerging as the next China. Hanjin Shipping expects to handle about 80,000TEUs of import/export cargo traffic in the region this year, about a 16% rise from the last year's 69,000TEUs.
Hanjin Shipping India PVT LTD will directly operate its own sales organization; Mumbai (Bombay) Sales Office will be raised to Mumbai Branch Office, and Delhi and Chennai Sales Offices established. On the other hand, Confreight Shipping, the existing Hanjin Shipping agent, will continue to serve as the sales agent in the Calcutta, Cochin, and Tuticorin regions.
Hanjin Shipping India PVT LTD is also in line with Hanjin's strategy to continue to expand its direct sales network in Europe and Asia where improved business competency and customer service will be needed to handle the growing volume in the future. Hanjin Shipping already established local companies in Valencia (Spain) and Hochiminh (Vietnam) last year and in Bangkok (Thailand) and Colombo (Sri Lanka) this year.
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