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Korea s Hanjin Shipping Opens Ship Repair Yard in Qushan Island

Summary: South Korea s Hanjin Shipping Co announced Tuesday that it began to operate Zhejiang Eastern Shipyard Co ZESCO a joint venture established with Shunhe Shipping of China upon recently receiving final approval from the Chinese government to repair Chinese as well as foreign ships The Zhejiang provincial government s door opening to foreign firms has granted official approval to four shipping companies among a total of 72 firms that have previously applied ZESCO is the sole ship repair yard that has received final approval ZESCO is situated in Qushan Island of Zhejiang province in China With the completion of phase 1 a large scale yard sits on a land of 550 000㎡ roughly 170 000 pyeong with 150 000 DWT dock 300 000 DWT dock and a quay of 670m The shipping firm plans to additionally build a 400 000 DWT dock with a quay of 640m through a phase 2 construction Once the yard embarks on normal operation with a recovery in the ship repair industry it is to annually repair around 150 vessels Moreover the yard is to become a larger ship repair yard able to repair more than 300 ships a year upon completion of a phase 2 construction With the new ship yard Hanjin Shipping is expected to repair its large vessels currently plying the coast under stable conditions Eun jung Kim JYJ ⓒ Maeil Business Newspaper mk co kr All rights reserved South Korea s Hanjin Shipping Co announced Tuesday that it began to operate Zhejiang Eastern Shipyard Co ZESCO a joint venture established with Shunhe Shipping of China upon recently receiving final approval from the Chinese government to repair Chinese as well as foreign ships The Zhejiang provincial government s door opening to foreign firms has granted official approval to four shipping companies among a total of 72 firms that have previously applied ZESCO is the sole ship repair yard that has received final approval ZESCO is situated in Qushan Island of Zhejiang province in China With the completion of phase 1 a large scale yard sits on a land of 550 000㎡ roughly 170 000 pyeong with 150 000 DWT dock 300 000 DWT dock and a quay of 670m The shipping firm plans to additionally build a 400 000 DWT dock with a quay of 640m through a phase 2 construction Once the yard embarks on normal operation with a recovery in the ship repair industry it is to annually repair around 150 vessels Moreover the yard is to become a larger ship repair yard able to repair more than 300 ships a year upon completion of a phase 2 construction With the new ship yard Hanjin Shipping is expected to repair its large vessels currently plying the coast under stable conditions Eun jung Kim JYJ ⓒ Maeil Business Newspaper mk co kr All rights reserved

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