Hanjin Shipping confirms asset sales are on the cards

Hanjin Shipping confirms asset sales are on the cards

Hanjin Shipping, questioned by the Korea Stock Exchange, has confirmed earlier reports carried by this site that it is looking at selling assets to cut its debt ratio.

The Korean line is looking at offloading an office building in London as well as terminals at home and overseas.

“(Various plans) are under consideration to secure liquidity and improve finances, but nothing has been decided yet,” the company said in a filing.
Hanjin Shipping must pay off some debt to make it eligible for a government shipping fund. The capital is available to lines that have reduced their debt ratios to less than 400%.

 

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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