Hanjin Shipping seems to be showing interest in the Panama Canal expansion program. Panama Canal Authority(ACP) held 'a presentation meeting for the current status of the Panama Canal expansion program and its ripple effect in economic aspect' at Korea Chamber of Commerce & Industry on 12 June.

There were about 30 participants at the meeting from shipping lines and construction companies including Hanjin Shipping, STX Panocean, SK E&C, LG Int'l Corp, Yeosu Gwangyang Port Corporation etc.

One of the notable characters was Mr. Kim Yeong Min, a CEO of Hanjin Shipping, who listened attentively to ACP's presentation. A staff at Panama embassy replied to a question regarding the motive of Mr Kim's participation "It was his personal visit, not as an invited guest. Hanjin looks like they are quite interested in Panama Canal expansion program."

He continued "The delegation of the Panama Canal visited Hanjin, Hyundai and STX Panocean last Nov. to ask their opinions about participation in transport terminal project. Mr. Kim's visit might have something to do with that."

PR department of Hanjin Shipping, however, was cautious in their opinion "Hanjin is not thinking about direct investment in the Panama Canal. Considering that the completion year is 2014, it is too tight. Yesterday's visit was just that Hanjin has many ships sailing through the Panama Canal."

Meantime, a chief of North American headquarter of Hanjin Shipping joined a ceremony of co-operation agreement between Busan metropolitan city and the city of Houston in Texas, which was held on 31 May. Houston is evaluated as a city of potential that will grow as the biggest trading port in North America once the Panama Canal expansion program is completed in 2014.

At the presentation meeting, there was an introduction to the current status of the Panama Canal expansion project that is scheduled to be finished by Sep. 2014.

As the biggest scale expansion project since opening of the Panama Canal in 1914, its completion will be in time for the centenary year in 2014. Handling capacity of the canal with 2 waterways has already reached the limit.

Only 35 units of Panamax type vessel(the maximum length and width are 965 and 106 feet each) are allowed to pass through the canal, which makes it happen all the year round that dozens of vessels are having to wait more than a day in an anchoring condition. As the construction is progressed, even the post-Panamax vessels will be able to pass.

When construction of supplementary ports and subways are completed along with canal expansion, South America is expected to be an important traffic center linking Asia with Europe according to specialists. ACP says trading volume between South America and Asia will rise as well.

This time the Panama delegation visited Korea staying 6 nights. After paying visits to Samsung Heavy Industries and Busan Port Authority, they came up to Seoul to talk with Mr. Kwon Do-youp, a Minister of Land, Transport and Maritime Affairs. They are also believed to have talked over the business with EUKOR Car Carriers. Then after having presentation meetings twice at Korea Shipowners' Association and  Korea Chamber of Commerce & Industry on 12, they left Korea.

Mr. Kwon asked ACP delegation in a meeting to postpone a raise of the charge inasmuch as Korean shipping companies have been suffering the recession. ACP defined their position in this behalf saying "We are now gathering opinions of Asian countries. Korea's stance will be reflected too."

ACP plans to announce the charge increase in early July, but acutually most of the shipping lines are showing their discomfort with ACP's action in the recession of current shipping market.