Hanjin Shipping, South Korea’s top carrier, is in discussions to sell more assets as it fights the downturn, according to the nation’s top newswire, Yonhap.
Hanjin Shipping is looking at selling its office in the east of London as well as selling 12.8m treasury shares, Yonhap reported. Its overseas terminals could also be offloaded.
The company must pay off or refinance KRW500bn ($406m) worth of debts set to mature in the first half of this year.
Hanjin joins fellow Korean line Hyundai Merchant Marine (HMM) in looking at fire sales to stave off severe financial difficulties. The pair have repeatedly denied rumours that they may merge.