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Four parties now in the running to take over HMM 

Photo of Sam Chambers Sam ChambersJuly 27, 2023
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HMM

The runners and riders lining up to bid for control of HMM, South Korea’s flagship carrier, are growing.

State-backed entities announced they would sell their majority shareholding in HMM last week with interested parties given until August 21 to lodge a bid.

Splash has already reported on two conglomerates with shipowning subsidiaries keen to take over HMM: Harim Group, which controls Pan Ocean, and SM Group, which owns SM Line.

Also in the mix for HMM are LX Holdings and Dongwon Group, Korean firms with interests in logistics. 

State-run banks, which have been in control of HMM since 2016, hope to complete the sale of the famous shipping line by the end of this year. 

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Photo of Sam Chambers Sam ChambersJuly 27, 2023
1 3 Less than a minute
Photo of Sam Chambers

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.

Comments

  1. “State-run banks, which have been in control of HMM since 2016, hope to complete the sale of the famous shipping line by the end of this year. ” Left it a bit late didn’t they. Aren’t bankers at the cutting edge of business?

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