Hyundai Merchant and shipowners agree on new contracts

Hyundai Merchant Marine has secured agreements with five container shipowners to reduce contract charter rates by 20 percent. Dry bulk shipowners also express willingness to slash contracted rates further, informs the shipping group.

BY KATRINE GRØNVALD RAUN

South Korea's Hyundai Merchant Marine (HMM) has now finally agreed with a series of shipowners to reduce charter rates, informs the carrier. A total of five shipowners have agreed to adjust contracts by 20 percent.

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