Korea's shipping giants stuck in interest slump
Hanjin Shipping and Hyundai Merchant Marine are weighed down by massive interest burdens, several years of deficits, and with zero prospects of becoming profitable within the next three years, says Drewry.
BY OLE ANDERSEN
Neither Hanjin Shipping nor Hyundai Merchant Marine (HMM), South Korea's two major shipping conglomerates, have any prospects of turning a profit anytime soon. Their financial states are far too weak, according to a new analysis by Drewry Equity Research.
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