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HMM says charter negotiations will reach ‘swift agreement soon’

Hyundai Merchant Marine (HMM) has just announced that its charter negotiations with foreign shipowners are “expected to reach an agreement soon”.

HMM has been negotiating charter fees with 22 foreign shipowners as part of its restructuring plans.

In a release today it said it “expected to see a swift agreement soon”.

HMM said it has made “meaningful progress” with five boxship tonnage providers and is in final negotiations with dry bulk owners.

HMM said it will brief about the progress of charter negotiation at bondholders’ meetings, which are scheduled for Tuesday and Wednesday.

Shares in the company closed the day on KRW 15,850, up 29.9%.


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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