Hanjin Shipping Considering Sale of H-Line Stake

Korean shipping company Hanjin Shipping Co confirmed in a stock exchange filing today that it was considering the sale of its stake in H-Line Shipping.

“Although we are reviewing the sale of H-Line Shipping stake as part of a financial restructuring plan, no decision has been specifically defined so far,” the filing reads.

Hanjin said that a final decision on the matter is expected to be reached within three months.

The sale is estimated to be worth around USD 139.35 million.

Hanjin Shipping has a 22.2% stake in H-Line Shipping, an entity created in 2014 following Hanjin’s offloading of dry bulk and LNG shipping businesses for USD 298 million.

Private equity firm Hahn & Company holds a 77.8% stake in the business.

H-Line Shipping has a fleet of 36 vessels totaling in approximately 5.4 million DWT, comprised of 20 bulkers and 7 LNG carriers.

Separately, Hanjin Shipping has been linked to a merger with another Korean shipping major- Hyundai Merchant Marine- by local media.

However, earlier last week HMM refuted the reports saying that it had not received such a request from the county’s government.

Both companies have been facing difficult times over the past two years and have opted to divest their stakes in businesses such as terminal assets, tanker shipping and dry bulk shipping so as to focus on their respective container shipping operations.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>


<< Nov 2019 >>
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

Offshore Wind Europe 2019

#OWEU19 is a meeting place for governments, developers and suppliers to grow the confidence in wind power. Perfect to grow your business by securing new customers, meeting officials and industry heads.

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >