Danaos left vulnerable after South Korean meltdown
Nearly half of Danaos Corporation's total revenues come from contracts tied to the two crisis-stricken South Korean carriers Hyundai and Hanjin. The Greek shipowners' stocks have plunged in recent months.
BY OLE ANDERSEN
Greek listed Danaos Corporation, one of the world's ten largest shipowners and charterers of container ships, looks to be highly exposed to the crisis at South Korean shipping conglomerate Hyundai Merchant Marine (HMM). The company also seems to be similarly exposed to another struggling South Korean carrier, Hanjin Shipping, according to the Greek shipowners' 2015 annual report.
Already a subscriber?Log in here
Read the whole article
Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
