Media: Hyundai Merchant preparing for acquisitions
South Korea's Hyundai Merchant Marine, which was rescued from bankruptcy in the nick of time, is gearing up to purchase new vessels and terminals as part of the transition to become the country's flagship container carrier.
Hyundai Merchant Marine (HMM), which spent years in the shadow of South Korea's largest container carrier, Hanjin Shipping, now looks on track to make a strong comeback after the company was rescued from bankruptcy earlier this year.
Demand on the majority of busy container routes is now at its lowest level in three years, an influential analyst bureau reports, saying volumes may continue to plummet beyond the Chinese New Year in February.
Hafnia, Torm, Norden and Scorpio Tankers have seen big profits this year in a strong tanker market, which has been highly affected by Russia’s war in Ukraine. The carriers are now sending record-high dividends out to stakeholders.