South Korea’s Sinokor-Heung-A merged entity will issue bonds that will go towards raising working capital for the integrated set-up.
The Taiwanese box ship operator placed a firm order for ten ships, with options for four more.
While a larger loss than the KRW173.72 billion loss in the same quarter in 2017, HMM’s cumulative loss of KRW418.48 billion for the first half of 2018 was reduced from the loss of KRW908.35 billion in 1H 2017.
China’s shipping companies have been buying into logistics firms in what appears to be a push into the Southeast Asian region.
The transaction is pending approval from Evergreen's board of directors. The Taiwanese liner operator and Kaohsiung Port plan to sign the lease in September after getting approval.
As SM Line is still working to get itself established, the revelation of the loans has raised eyebrows.
The deterioration in earnings was driven by ongoing intense competition in the liner trades, lower-than-expected freight rates, and higher operational costs.
Its Korean name, Hyundai Sangson, which is literally translated as “Hyundai Merchant Ships”, will eventually be changed to “Ae-Chi Aem-Aem” to sound like HMM.
Container lines serving Myanmar are facing mounting challenges caused by difficulties at the gateway port of Yangon.
The company was officially launched on 1 August following regulatory approval to exclusively market a fleet of more than 90 tramp container vessels of up to Panamax class.