HMM steps up charter renegotiations after gaining 'breathing space' from Hyundai Securities sale

05/04/2016

Hyundai Merchant Marine (HMM) has begun a second round of negotiations with shipowners on amending the terms of charter parties to reflect reductions in daily hire rates.

The move is crucial to the company’s restructure under its voluntary agreement (VA) status with creditor banks.

It has also ...

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David Lee
April 19, 2016 at 9:34 am
The stock trading of HMM will be stopped from April 20, 2016 until the 3 major container vessel lenders, Danaos Corporation, Zodiac Maritime, Eastern Pacific Shipping complete the charter renegotiations with HMM. Zodiac Maritime played hardballs at the 2nd round but it showed positive attitude at 3rd round renegotiations a few days ago.

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