SK Shipping to be sold

SK Shipping to be sold

SK Shipping, the fourth largest shipping company in South Korea, is to be sold off. The subsidiary of energy conglomerate SK Group is to be sold to local private equity firm Hahn & Co. Hahn & Co already owns H-Line Shipping, a fast growing bulk operation founded in 2014. H-Line has taken on many assets from other struggling local lines in recent years.

Hahn & Co is understood to be paying $1.35bn to take a 90% stake in SK Shipping.

In recent years SK Shipping has struggled and it entered a restructuring in February 2017.

SK Shipping is involved in dry bulk, product and crude tankers as well as being the owner of a number of LNG carriers.

 

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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