HMM front-runner to take over Hanjin’s transpacific operations

HMM front-runner to take over Hanjin’s transpacific operations

Hyundai Merchant Marine (HMM), Korea Line Corp and three unidentified other parties are in the mix to take over the running of Hanjin Shipping’s transpacific operations.

A total of five companies have submitted bids for a court in Seoul to take over the business.

Hanjin filed for bankruptcy at the end of August and has since tried to reposition itself as an intra-Asia carrier, willing to sell its Europe and American operations in a desperate bid to appease judges at a court in Seoul when it submits its rehabilitation plan in December.

“We hope Hanjin assets will help enhance our competitiveness on major routes,” HMM said in a statement.

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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