AsiaDry CargoFinance and Insurance
Hana Financial Group buys into H-Line Shipping
South Korea’s Hana Financial Group is buying into H-Line Shipping, the dry bulk group formerly part of the defunct Hanjin Shipping empire, which is now controlled by local private equity fund Hahn & Co.
Hana and Hahn will will create a $1.45bn project fund for the leveraged buyout of H-Line Shipping, one of the country’s larger shipowners with 38 dry bulk ships and seven LNG carriers in its fleet.
Split off from Hanjin in 2014, H-Line Shipping was acquired by Hahn & Co’s private equity fund. H-Line Shipping then took over Hyundai Merchant Marine’s dry bulk operations in 2016 and then bought a controlling stake in tanker player SK Shipping two years later.