News Release

12th November 2003

HKT Takes Delivery of Three New Quay Cranes


[12th November 2003, Seoul] Hutchison Korea Terminals (HKT), a member of the world’s leading port investor, developer and operator Hutchison Port Holdings (HPH), is pleased to take delivery of three new quay cranes. This delivery is subsequent to Typhoon Maemi which hit Busan Port in September destroying two of HKT’s quay cranes.

The three new Super Post-Panamax quay cranes have arrived at HKT’s Hutchison Busan Container Terminal (HBCT). Having an outreach of 20 rows (55 metres) and a lift capacity of 61 tons, these cranes are capable of lifting two TEU containers at the same time. Roll-off and positioning of the equipment will take place over the next few days. After test operation and commissioning, the cranes are scheduled to commence operation in early December. The three other cranes, which were derailed by Typhoon Maemi, were repaired and brought back into normal operation in October.

Won-jong Choi, CEO of HKT said, “Leveraging HPH’s worldwide network and resources, HKT was able to resume normal terminal operations at a much earlier date. With this latest delivery of equipment, the number of quay cranes at HBCT has increased from 12 to 13. This will greatly enhance our cargo handling productivity and capacity.”

Raymond Law, Head of Korea, Middle East & Africa Division of HPH, stressed that “The quick replenishment of quay cranes at HKT highlights the importance of the Korean market for HPH. Although Busan Port is currently facing a number of challenges, Hutchison remains committed to the success of Korea’s port and shipping industry.”