12-vessel deal sets up Bangladesh Shipping for relaunch into box sector
Bangladesh Shipping Corp(BSC) is set to buy 12 containerships, ranging from 2,500 to 3,000 teu, ...
By Mike Wackett
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 received a significant fillip from an agreement to sell Hyundai Securities to a Korean financial house for what is understood to be better-than-expected terms.
On 29 March, the cash-strapped South Korean shipping group entered into the VA ...
Comment on this article
David Lee
April 19, 2016 at 9:34 amThe 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.