[ HJS Commits to Multi-Million Dollar Container Investment ]

Hanjin Shipping and its sister company, DSR-Senator, has endorsed its
commitment to provide quality equipment for its customers with the ann
ouncement of an order for 70,750 TEU of new containers.
Valued at 120 million dollars, the new equipment will replace older ex
isting stocks, with growth in volumes managed by Hanjin Shipping and t
he United Alliance’s continuing program of improving turnaround times
of containers. Under the new purchase program, Hanjin Shipping and DS
R-Senator will order 43,000 containers. The order, which will be compl
eted by October 2000, will consist of 20 and 40ft standard containers
to be built by Jindo of Korea, with the remainder of the boxes manufac
tured by the China International Marine Container Group (CIMC).
A Hanjin Shipping spokesman said the investment in new boxes was part
of both companies’strategy to provide the best equipment available. T
his will help us to sustain the higher quality standards as we also ta
ke advantage of new technology available in box construction. And the
new investment will result in cost-savings of US $17 million per year
for Hanjin Shipping and DSR-Senator.”