What is Hanjin logistics? What does it do? What sets it apart from other logistics companies? Read on to learn more about this Korean shipping and transportation company. Hanjin Logistics is a Korean company that specializes in container shipping and transportation. Founded in 1951, Hanjin is one of Korea’s oldest logistics companies. It has a long and distinguished history. Read more about Hanjin here:
Hanjin Group
The logistics division of the Hanjin Group is poised to expand its reach across East Asia. It will focus on operational efficiency and joint venture opportunities to enhance its customer service. It will also look to increase its cooperation with ICT and finance companies to improve customer service. The group is looking to increase its concentration, choice and efficiency, while also further developing its aerospace business. The company is considering developing its ground logistics and forwarding operations in Thailand, where it plans to establish a logistical hub.
In 2001, Hanjin Shipping joined the Gulf-Asia Express route. This route links the Far East with India and Pakistan. In February of that year, it established a route between the U.S. and Asia via the Atlantic Gulf. The route is the first direct route between Asia and the U.S. East Coast. In May, Hanjin Shipping launched a logistics startup called CyberLogitec, which specializes in Internet-enabled logistics. The company has also entered into a space-sharing agreement with the ‘K’ Line of Japan.
By 1996, Hanjin had become the eighth largest container shipping company in the world. Today, it generates 60% of its revenues from the U.S. market. The shipping industry in the late 1980s was dominated by conferences for specific routes. In the 1990s, strategic alliances became the guiding force. Strategic alliances enabled the shipping industry to compete on the world stage. It was at this time that the company diversified its operations. The company now handles millions of TEU each year, and in many countries, it is the world’s largest container shipping company.
In 1997, Hanjin Shipping was ranked 12th among container carriers. The company has since departed from the Trans-Pacific Westbound Rate Agreement (TACA), leaving its competitors in a weak position. Its fleet included 25 container liners and 14 bulk vessels. In addition, Hanjin Group logistics merged with SSGL, a leading container carrier. The company is also expanding its international shipping business. Its logistics division was founded in the late 1970s.
Hanjin Shipping
Hanjin Shipping Co., Ltd. was a South Korean integrated logistics and container transport company. It was the largest container line in South Korea, and ranked among the world’s top ten carriers in terms of capacity. The company has since been dissolved, but the legacy of the company still lives on. The following are some facts about the company. Listed below are some of the company’s major operations. If you’re in the market for a new container ship, Hanjin Shipping might be the right choice.
The company has more than five thousand employees worldwide and regional headquarters in Europe, the U.S., and Southeast Asia. Despite the size of the company, it has been hit by tough economic times. In 2015, Hanjin requested debt restructuring from its creditors and avoided bankruptcy. Additionally, the company has suffered several major accidents, many of which were not preventable. While there are numerous risks associated with shipping, Hanjin has a strong reputation for reliability, and it strives to meet these standards with its excellent service.
The collapse of Hanjin has caused many people to question the government’s stance. President Park Geun-hye said that the government should help shippers when they’re in trouble, but should avoid investing taxpayer money in the company that does not aggressively pursue recovery. However, Finance Minister Yoo Il-ho told lawmakers that it was inappropriate to inject taxpayer money into the company. The shutdown of Hanjin would have a minimal impact on the industry, he said, as the ships that are currently operated by the company will be sold or charter-operated by other companies.
Since it has been in business for more than 20 years, Hanjin Shipping has expanded its international operations by opening new container terminals in Japan, South Korea, and the U.S. Additionally, it has a world-class logistics network. Its latest expansion includes a dedicated terminal in Algeciras, Spain, and two more in the future. The company has also invested W 550 billion in new ships and logistics infrastructure.