Involvement of lines gets global nod

THE TREND in the industry to port operation AND shipping line control - and its acceptability - is highlighted in a recent article in Lloyds List. It relates the saga of Asia’s richest man, Li Ka-shing, who is described as not being content with just owning the most container ports in the world, but is now firmly on the trail to acquiring container liner shipping operations. His company, Hutchison Whampoa, recently announced it would buy 12% of the shares of South Korea’s number two shipping line, Hyundai Merchant Marine. “This follows his commitment, through Hutchison Whampoa and property subsidiary Cheung Kong Holdings,” said the report, “to buy a total of 15% of the US$1.3-billion initial public offering of China Shipping Container Lines - after last year’s disposal of a long-held 5.6% stake in Orient Overseas Container Line. Meanwhile, HMM president and chief executive Jeong-ik Noh told Llloyds List: “With the deepening of our alliance with a leading international ports and logistics operator, HMM will be able to position itself as a world-class shipping company.”