Hyundai Merchant Marine is one of five bidders for the trans-Pacific and intra-Asia networks of bankrupt Hanjin Shipping.
Kambara-kisen signed the contract with a service provider 'CyberLogitec Co.,Ltd.' (Seoul, Korea) for Japan's AFR*.
28 Mar 2016
Hyundai Merchant Marine is selling its stake in the Busan New Port in an effort to stave off bankruptcy ahead of this year’s maturation of debts valued at 382 billion South Korean won ($334 million) with another 606 billion won due in 2017.
17 Mar 2016
Hanjin Shipping will replace its joint pendulum service connecting the U.S. West Coast to Asia and the Mediterranean with an exclusive Hanjin-supplied service as the carrier restructures its network in the face of surplus capacity and weak demand.
14 Mar 2016
South Korea’s shipping lines are adding services to Indochina in order to meet current demand and future growth as China’s economic expansion slows and other Northeast Asia economies reach maturation.
07 Mar 2016
Hyundai Merchant Marine and Hanjin Shipping would stand a better chance of surviving their crushing debts if the carriers were merged, something that Drewry believes is now a distinct possibility.
25 Feb 2016
Incheon Port Authority launched a single window communication service to reduce congestion and emissions in the vicinity of the port and to increase productivity and supply chain efficiency.
19 Feb 2016
Korea Investors Service, a credit rating agency in South Korea, has placed Hanjin Shipping on a watchlist for a potential downgrade as it struggles to cope with a down market across its business segments, particularly containers and dry bulk.
18 Feb 2016
The depth of Hyundai Merchant Marine’s financial troubles was revealed in a letter from its CEO to owners of the South Korean line’s chartered-in fleet pleading for discounts, saying the carrier was near collapse.
02 Feb 2016
Hanjin Shipping edged into the black in 2015 with its $6 million net profit representing a half-a-billion dollar turnaround from the huge 2014 loss as the carrier managed to offset declining revenue with lower costs and the rationalization of service lanes.
18 Jan 2016
South Korea’s port of Busan handled more than 10 million transshipment containers for the first time in its history last year moving the port closer to its goal of becoming the world’s second largest transshipment hub.
11 Jan 2016
Amid the backdrop of the global shipping downturn, South Korea’s Ministry of Oceans and Fisheries has decided to hold off on raising fees for using the country’s trading ports and plans to reduce port fees by 70 percent over the next three years.