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HMM says it is in discussions with Walmart as Hanjin replacement

HMM says it is in discussions with Walmart as Hanjin replacement

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The head of Hyundai Merchant Marine (HMM) has moved to scotch rumours circulating in local Korean media that American retail giant Walmart is ditching all Korean liners as transport partners in the wake of the chaos brought about by the collapse of Hanjin Shipping last August.

“Discussions are underway with Walmart about a shipping operation contract,” Yoo Chang-keun, CEO of HMM, told local media in Seoul.

Walmart has also come out and stressed that it has not severed all ties with Korean shipowners as earlier reported.

“While we are no longer doing business with Hanjin Shipping because of their recent bankruptcy, we are currently speaking to another Korean carrier regarding our shipping needs,” a spokesperson for the retailer told the Korea Times.

Hanjin accounted for around 10% of Walmart’s total annual shipping volumes.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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