Hanjin opens Chinese ship repair yard to foreign ships

Hanjin Shipping's Zhejiang Eastern Shipyard Co (ZESCO) has received official approval from the Chinese government to repair foreign ships.
ZESCO is located in Qushan Island of Zhejiang Province near Shanghai's Yang Shan Port.
With the completion of phase-1, the yard is situated on 550,000m2 of land, with a 150,000 DWT dock, a 300,000 DWT dock and a 670 metre quay.
On completion of phase-2, it will also have a 400,000 DWT dock with a 640 metre quay.
Set up in May 2007 and constructed last March, ZESCO successfully repaired fourteen ships since last April with temporary approval from the Chinese government.
According to Hanjin, once the ship repair industry recovers, ZESCO will be able to repair around 150 ships a year, and when phase-2 is completed, it will become a mega-sized ship repair yard with a capacity for 300 ships a year.
Hanjin is optimistic that this ship repair yard will be successful, considering its location near the world's fastest growing hub port and the fact that Korea has no mega-sized ship repair yards.
The new ship repair yard also enables Hanjin Shipping to repair its ships under stable conditions.
Hanjin Shipping also plans to expand its current ship repair business to off-shore and Floating Production Storage Offloading (FPSO).