Hanjin Shipping Co. has signed a contract to sell its stake in the largest terminal at the Port of Long Beach to Mediterranean Shipping Co.
Hanjin, which was South Korea’s largest cargo container carrier and the seventh-largest in the world before its Aug. 31 bankruptcy filing, owns 54 percent of the company that operates Long Beach’s Pier T, Total Terminals International. Mediterranean Shipping subsidiary Terminal Investment Ltd. owns the other 46 percent.