The parents of two South Korean shipping lines have been linked with adding a shipyard to their sprawling business empires.
Both Samla Midas Group, the owner of Korea Line Corporation, and Harim Group the owner of Pan Ocean, are being linked in local media with buying out Korean yard SPP. Another firm, BN Group, a Busan-based marine equipment manufacturer, has also been reported as interested in taking over SPP, which runs three yards in South Korea.
SPP, which specialises in product tankers, ran into financial difficulties five years ago. Its creditors have said January 14 will be the date for bids for the yard.
SM Group, which took over KLC in 2013, is viewed as the early favourite to take over SPP, and is rumoured to have already submitted a letter of intent.
There is a chance that creditors will decide to split the sale up, selling each of the three yards separately.
