News / Shipowners resolute over charter rates, so HMM must now revisit Hanjin merger plan

Hyundai Merchant Marine’s (HMM) quest to get shipowners to reduce charter rates appears to have already reached an impasse.

Maritime analysts suggest its only option now may be to reconsider a merger with Hanjin Shipping.

One insider told The Loadstar the owners of containerships on time-charter to debt-ridden HMM were refusing to reduce the contracted daily hire rates, even though a senior management team from HMM has been in London since Monday, accompanied by advisor Milstein & Co, to plead its case.

Greek shipowner Danaos has ...