News / How KOBC overcame funding challenges for HMM’s ULCV fleet

HMM Algeciras, the first 24,000 teu ship delivered to the line. Credit HMM

Korea Ocean Business Corporation’s efforts to raise funds to build South Korean flagship liner operator HMM’s 24,000 teu ships have borne fruit, with all 12 vessels now on the water.

Speaking at Marine Money’s online Korea Ship Finance Forum yesterday, KOBC’s head of HMM’s financial support team, Mr Bae Jong Yoon, recounted how the state-backed ship finance provider was formed in 2017 to support the economy by strengthening the competitiveness of the country’s shipping companies.

HMM had escaped bankruptcy after renegotiating its ...