Hahn & Co mulls sale of H-Line

Hahn & Co mulls sale of H-Line

South Korean private equity firm Hahn & Co is considering the sale of its shareholdings in domestic shipping company H-Line, according to Bloomberg quoting sources familiar with the matter.

Hahn & Co is working with financial advisers on a potential deal, which could include either partial or the full sale of H-Line with some investors looking to cash out, the source said.

According to the source, Hahn & Co has started reaching out to some shipping firms and infrastructure investment funds to check their interest, and it is also considering the alternative of creating a new fund to acquire H-Line, which would allow Hahn to continue managing the business while returning cash to the existing fund’s investors.

H-Line could be valued at $3.5bn to $4bn including debt.

H-Line Shipping was set up in 2014 after Hahn & Co took over the non-container shipping business from Hanjin Shipping, which went bust two years later. The company also acquired the dry bulk business of debt-laden Hyundai Merchant Marine in 2016.

VesselsValue data shows H-Line currently owns a fleet of 39 vessels made up of 35 bulkers and four LNG carriers, and it also has another nine capesize bulkers on order.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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