Hyundai to bid on Hanjin's Asia-US business

Hanjin's key business on the trade between Asia and the US could be purchased by South Korea's other major carrier, Hyundai Merchant Marine, which is currently negotiating its membership of Maersk Line and MSC's 2M alliance.

Photo: PR-foto/Hyundai Merchant Marine

South Korean Hyundai Merchant Marine (HMM) will likely make a preliminary offer to buy Hanjin Shipping's Asia-US business. The assets include a sales organization with 150 employees, five vessels of 6,500 teu each, and 10 overseas subsidiaries, informs Hyundai on Tuesday according to Reuters.

The bid from Hyundai Merchant Marine, which as opposed to Hanjin seems to have avoided a similar collapse by getting support from the South Korean government, will likely be received positively by the government if it can help Hyundai expand and normalize its business, Seoul-based sources till Reuters.

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