HMM secures more Hanjin terminals

HMM secures more Hanjin terminals

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.

 

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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