HYUNDAI TO PUSH INTO CHINESE MARKET
Hyundai Merchant Marine said that it is strengthening its investment in the Chinese market, as mainland China prepares to operate within the World Trade Organization.
Hyundai said that China’s potential market has been boosted by its membership of the WTO.
The Korean shipping line plans to extend its business network and open new service routes.
It has established new offices in Wuhan and Chungching to improve its inland cargo transportation service, and has made plans to open an office in Shenzhen to develop business in South China. Hyundai wil then operate a total of 14 branches and offices in China and Hong Kong, it said.
Hyundai started the New China Europe Express service in June, calling at Qingdao, Ningbo, Shanghai, Hong Kong, Chiwan and Europe, and added Yantian port to the existing Japan Europe Express service.
Hyundai vessels are currently calling at Hong Kong and major Chinese ports on 27 service routes, it said.
Hyundai reported that, during the first half of this year, the total container transportation volume in Chinese ports was over 10 million TEUs, an increase of over 16 percent over last year’s figure, despite the world’s slack economic situation.