HMM sale – Hapag-Lloyd frozen out of second-round bidding
South Korean authorities have excluded Hapag-Lloyd from the second round of bidding to acquire flagship ...
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A Seoul court this morning sentenced former DSME chief executive Nam Sang-tae to six years in jail after he was found guilty earlier this year of string of offences, including embezzlement and taking bribes. Daewoo is one of the largest shipbuilders in the world and constructed Maersk Line’s first Triple-E series, but suffered hugely following the collapse of the global shipbuilding industry, having received state subsidies amounting to around $11bn. His crimes included buying a stake in another shipbuilding firm at three times its market value and receiving around $2m in bribes.
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