HMM to take Hanjin’s Algericas terminal

HMM to take Hanjin’s Algericas terminal

Hyundai Merchant Marine from South Korea has been selected as preferred bidder to buy a terminal in the Spanish port of Algericas from bust compatriot Hanjin Shipping. HMM said it should finalise the deal to take over Total Terminal International Algeciras by late December.

Hanjin Shipping, which sought court protection at the end of August, has been offloading most of its assets in a desperate bid to survive as an intra-Asia operator when it submits its restructuring plan to a court in Seoul next February.

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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