Hanjin to divest dry bulk vessels and property

Korean Hanjin plans to generate USD 357 million by selling items such as dry bulk activities while the debt-stricken shipping group negotiates with shipowners for a reduction in charter contracts. Without lower prices, a debt restructuring will not be an option, say the creditors.

Der bliver igen åbnet op for en storfusion mellem Hyundai merchant Marine Co. og Hanjin Shipping. | Photo: Lee Jin-man/AP/POLFOTO/arkiv

BY MATHIES HVID TOFT

Negotiate the price down on your charter contracts or go bankrupt. This is the ultimatum presented to struggling Hanjin Shipping by its creditors.

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Hanjin to divest dry bulk vessels and property

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Front page now

Maritime & Merchant notes fierce competition in loans for shipping

Packed container ships trigger surge in air freight demand

14 arrested at demonstration in front of Maersk headquarters

Norwegian car carriers bag multi-year contracts

IMO's fossil fuel ban in the Arctic faces criticism

Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Less than one percent of the container fleet is currently idle

Congestion in Asian ports is now as bad as during Covid

Analysis: Capesizes have become too expensive despite strong market

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

Jobs