Seoul, Korea-based Hanjin Shipping has established a local subsidiary tanker operating company in Singapore that will start operations July 1.
Hanjin is investing about $5 million in Hanjin Overseas Tanker Pte. Ltd., which will carry out independent overseas sales and ship operating business.
"Hanjin Shipping expects that the establishment of the local subsidiary will strengthen overseas sales and expand tanker business, since Singapore is quickly emerging as the center of tanker business thanks to the recent relocations of tanker-related companies," Hanjin said in a statement.
Hanjin is investing about $5 million in Hanjin Overseas Tanker Pte. Ltd., which will carry out independent overseas sales and ship operating business.
"Hanjin Shipping expects that the establishment of the local subsidiary will strengthen overseas sales and expand tanker business, since Singapore is quickly emerging as the center of tanker business thanks to the recent relocations of tanker-related companies," Hanjin said in a statement.