Cargologicair sells off remaining stock and redundant staff can be paid
The remaining stock of Cargologicair, still under administration, is soon to be sold. The formerly ...
By Mike Wackett
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 creditors had said to be seeking charter rate cuts of 30%, but main creditor Korea Development Bank (KDB) today said the deal “achieved the goal that it had originally intended”.
HMM said it planned to sign new charter parties with ...
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The firm Info
June 13, 2016 at 7:30 amThe 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