HMM Shipping Alliance 'The Alliance' Signs Terminal Contracts for Busan New Port Piers 1, 3, and 4

[Asia Economy Reporter Dongwoo Lee] The Alliance, one of the three major global shipping alliances using Busan New Port, has decided to sign a terminal service contract with the operators of Piers 1, 3, and 4 at Busan New Port.

HJNC (Hanjin Busan Container Terminal), the operator of Pier 3 at Busan New Port, announced on the 18th that the terminal service contract negotiations with The Alliance, promoted through Hanjin and HMM, have been finalized. HMM is a member of The Alliance.

Through this negotiation, HJNC will handle 3 million TEUs out of The Alliance's annual cargo volume of 6.2 million TEUs at Busan New Port (1 TEU equals one 20-foot container).

Additionally, HPNT, the operator of Pier 4, will handle 2.4 million TEUs, and the remaining volume will be handled by PNIT, the operator of Pier 1.

HJNC did not disclose specific contract details such as handling fees but it is known to be a long-term contract of 5 years (3 + 2 years).

Prior to this, 2M, the world's largest shipping alliance, decided to sign a long-term terminal service contract of over 7 years with PNC (Busan New Port Corporation), the operator of Pier 2 at Busan New Port.

The annual cargo volume supplied by 2M to Busan New Port is estimated to be 5.5 million TEUs.