Greek shipowner reveals agreement with HMM

In relation to the second quarter, Danaos Corporation reveals just how much the container shipowner had to trim contracts with South Korea's HMM. Negotiations with Hanjin are still underway, says CEO John Coustas.

Photo: Ritzau Scanpix/AP/Dimitri Messinis

BY KATRINE GRØNVALD RAUN

The ties to the shipping conglomerate Hyundai Merchant Marine have been a vital part of business for Greek Danaos Corporations. So the world's 10th largest proprietor of container vessels was exposed when HMM dug in its heels in January and put on the pressure to make big cuts in the group's charter contracts with shipowners.

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Media: Shipowners put pressure on debt-plagued Hyundai
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