A day before Hanjin Shipping is expected to be declared bankrupt by a court in Seoul compatriot Hyundai Merchant Marine (HMM) has bagged a quick firesale of more terminals belonging to the bust line. HMM had already announced its winning bids for Hanjin’s terminals in Long Beach and Algericas. It has just revealed it has also snapped up Hanjin’s terminals in Tokyo and Kaohsiung, which it said in a statement would help boost its intra-Asia plans.
Hanjin Shipping is tipped to be declared bankrupt on Friday becoming the biggest failure in container shipping history. It sought court protection at the end of last August. Its website has pulled most of its content today in anticipation of tomorrow’s likely announcement.