AsiaDry Cargo

Six-year-old cape fetches $38m for Hanjin

Hanjin Shipping has sold a six-year-old capesize, Hanjin Saldanha Bay, for $38m to H-Line Shipping as part of efforts to raise cash for urgent debt repayments.

H-Line Shipping is owned by South Korean private equity firm Hahn & Co, which bought most of Hanjin’s LNG and dry bulk businesses two years ago.

Hanjin, which has just entered restructuring, is looking to sell off all its remaining bulk carriers and container terminals as well as renegotiate fees for its chartered in box fleet in order to stay afloat.

 

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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