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JAXPORT confirms plan to amend Hanjin Terminal timeline

January 24, 2011

JAXPORT today announced an amended timeline for construction of a new container terminal in North Jacksonville for Hanjin Shipping Co. of South Korea. The schedule adjustment will permit enough time for improvement of the Jacksonville harbor to a post-Panamax depth, accommodating passage of the larger container vessels Hanjin and its partners will utilize.

“After cooperating on a diligent review of our plans, we have came to the conclusion that it is in our mutual best interest to adjust the start date of this project,” said JAXPORT Board Chairman Dave Kulik. “It is anticipated that the process of constructing the Hanjin-Jacksonville terminal will begin 18 to 24 months from now, allowing for the completion of the expected deepening of the St. Johns River and the opening of the new Hanjin Terminal to coincide.”

“We have been in communication with Hanjin leadership in New Jersey and Korea to coordinate efforts to work through this delay,” said JAXPORT Executive Vice President Roy Schleicher. “During this dialogue, Hanjin has continually stressed its commitment to Jacksonville and JAXPORT. That commitment has not changed. I have worked closely with Hanjin through the years and they tell me they intend to push this project forward. Hanjin is also very proud of its recent agreement with the International Longshoremen’s Association.”

“Hanjin’s plan to stand by us as we launch renewed efforts to get the deeper water we need to attract thousands of new private sector jobs to Jacksonville is vital to our effort,” said JAXPORT Chief Executive Officer Paul Anderson.

“This decision should be seen for what it is, a prudent course of action for both Hanjin and the Jacksonville community, one that will ensure each partner realizes the maximum benefits from this joint project by ensuring that the larger container ships we must bring to Jacksonville can be accommodated from day one,” concluded Chairman Kulik.

The 90-acre, $300 million Hanjin Container Terminal will be located on JAXPORT’s Dames Point Marine Terminal, adjacent to the TraPac Container Terminal built for Mitsui OSK Lines (MOL), which opened in January 2009.

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