News / THE Alliance beckons HMM as containership owners agree 20% charter rate cuts

10/06/2016

Hyundai Merchant Marine (HMM) has managed to secure a 20% cut in daily hire rates for its chartered vessels.

The line today said it had reached a new agreement with five containership owners, saying it represented a saving of around W530bn (US$455m) over the next three and a half years.

HMM’s ...

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The firm Info
June 13, 2016 at 7:30 am
The stock prices of both shipping companies plunged on June 13, 2016.
because the Nakerd short sellers and loan traders made the trend of stock price.
downward.

Hanjin has done its best to cut charterage from its vessel owners
as HMM cut 20% charterage from the vessel owners.
Hanjin has already joined new shipping alliance but HMM was excluded from joining new shipping alliance. Hanjin seems to have the key for HMM to join the new shipping alliance. HMM seemed to make 20% at the charterage correction talks but Hanjin is still in the beginning stage. The 2 cash strapped shipping companies seem to go to the court receivership if they cannot overcome the difficulies such as joining shipping alliance and charterage cut .

This story is based on http://www.firminfo.net

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