News / HMM sale – Hapag-Lloyd frozen out of second-round bidding

Photo: Hapag-Lloyd.

South Korean authorities have excluded Hapag-Lloyd from the second round of bidding to acquire flagship carrier HMM.

Reports claim the creditor banks involved in the sale of HMM, Korea Development Bank and Korea Ocean Business Corp, took note of the country’s maritime community and ruled out Germany’s largest carrier as a potential suitor.

In a joint statement, the Federation of Korea Maritime Industries and Busan Port Development Association said a sale to Hapag-Lloyd risked South Korean ...