Jacksonville Port Authority (Jaxport) has inked a 30-year lease agreement with South Korea's Hanjin Shipping Company.

The lease calls for Hanjin to build an approximately 90-acre container facility at the Dames Point Marine Terminal in North Jacksonville with the option for further expansion.

The US$300 million Hanjin Container Terminal at Dames Point is expected to open for business in late 2011 and will be a key hub operation for Hanjin's east coast port activity.

CargonewsAsia