News / HMM widens its port terminal portfolio with Hanjin's TTI facility at Algeciras

As the sale of Hanjin assets gathers pace, Korean compatriot Hyundai Merchant Marine (HMM) has revealed it will acquire its bankrupt rival’s terminal in the Spanish transhipment hub of Algeciras.

“HMM is expected to finalise its purchase of a 100% stake in Total Terminal International (TTI) Algeciras in late December, following due diligence on the assets starting on November 28,” HMM said in a statement.

The 35.7ha terminal has annual capacity of 1.86m teu, and “is one of the lucrative assets of the cash-strapped ...