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HMM takes another step towards financial redemption

The path to financial redemption for South Korea’s Hyundai Merchant Marine (HMM) moved ahead yesterday with news the line had signed an agreement with its creditors on implementing plans to normalise its management.

HMM has said it has met all of the demands laid out by its creditors during its five-month restructuring. HMM will now prepare to join 2M, the vessel sharing agreement founded by Maersk and MSC, next April.

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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