ShippingWatch

Rumors hint at yet another Asian container merger

Shares at Korean shipping group Hyundai Merchant Marine noted the biggest slide in more than two years after reports hinted that a merger with Hanjin Shipping, whose shares also dropped, could be underway.

Photo: Hanjin

Hyundai Merchant Marine (HMM), South Korea's second-largest carrier, saw its shares plummet after rumors emerged that the shipping group could be headed for a merger with the country's biggest container carrier, Hanjin Shipping.

HMM's shares dropped 14 percent on the Seoul Stock Exchange to 5,130 Korean won (around USD 4.4) per share, which is the biggest decline for the group since June 2013, reports Bloomberg News.

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