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Hyundai Merchant pushes back restructuring deadline

Crisis-stricken Korean container carrier Hyundai Merchant Marine is now pushing back the deadline for a financial restructuring plan by one month. The move allegedly comes in the wake of negotiations for a place in Maersk Line and MSC's 2M alliance.

Photo: PR-foto/Hyundai Merchant Marine

The deadline for the financial restructuring plan that will help save the struggling South Korean container carrier Hyundai Merchant Marine (HMM) has been pushed back one month, informs the carrier according to several media outlets, including the Korea Times.

The rescue plan was set to be completed by the end of June. The postponement can allegedly be traced to the ongoing negotiations concerning the possible introduction of HMM into the 2M alliance, which currently consists of Maersk Line and MSC.

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