Hanjin Shipping ready to sever non-container links in liquidity drive

Hanjin Shipping ready to sever non-container links in liquidity drive

Hanjin Shipping is looking to sever its non-container links to raise much needed cash. South Korea’s top containerline is looking at selling its stake in H-Line Shipping, the LNG and bulker vehicle it sold off in 2014.

H-Line Shipping, which is held 22.2% by Hanjin Shipping and 77.8% by private equity firm Hahn & Company, has seven LNG carriers and 29 bulkers. Hanjin Shipping is looking to book up to KRW150bn ($140m) from the sale of its stake in H-Line. The details of the sale are likely to be known in the next month.

Hanjin Shipping’s quest for more liquidity has stepped up in recent months after it failed to sell its Spanish box terminal in Algericas.

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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