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Media: HMM withdraws from Long Beach terminal bid

South Korea's Hyundai Merchant Marine is withdrawing its part of the bid on the Long Beach terminal in California alongside MSC, citing the company's low credit rating, reports the Wall Street Journal.

Photo: Reed Saxon/AP/POLFOTO

Hyundai Merchant Marine (HMM) recently announced plans to join forces with container carrier MSC to acquire Hanjin Shipping's port activities in Long Beach in California.

Hyundai Merchant Marine is now withdrawing this bid, reports the Wall Street Journal.

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