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Hyundai Group in talks to sell stake in logistics unit to Orix

DAC: SURGING GM: SUPPLY CHAIN WOESMAERSK: ROTTERDAM TEMPORARY SUSPENSION OF OPERATIONSATSG: OWNERSHIP UPDATERXO: COYOTE FILLIP GONEGM: SUPPLY CHAIN HITBA: CUT THE FAT ON THE BONER: STEADY YIELDMAERSK: SELL-SIDE UPDATESDAC: TRADING UPDATE OUT SOONTSLA: FEEL THE PAIN IN CHINAWMT: GUESS WHATXPO: SURGINGAMZN: LOOKING FORWARDCHRW: PAYOUT UNCHANGEDWTC: NEW HIGH MAERSK: 'AFLOAT IN A SEA OF RISK'

DAC: SURGING GM: SUPPLY CHAIN WOESMAERSK: ROTTERDAM TEMPORARY SUSPENSION OF OPERATIONSATSG: OWNERSHIP UPDATERXO: COYOTE FILLIP GONEGM: SUPPLY CHAIN HITBA: CUT THE FAT ON THE BONER: STEADY YIELDMAERSK: SELL-SIDE UPDATESDAC: TRADING UPDATE OUT SOONTSLA: FEEL THE PAIN IN CHINAWMT: GUESS WHATXPO: SURGINGAMZN: LOOKING FORWARDCHRW: PAYOUT UNCHANGEDWTC: NEW HIGH MAERSK: 'AFLOAT IN A SEA OF RISK'

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The family silver sale goes on. Still desperate to boost ever-weaker balance sheets caused by the ongoing crisis in shipping, South Korean chaebol Hyundai Group is now looking to sell a stake in its freight forwarding and express logistics arm, Hyundai Logistics, to a consortium led by Japanese industrial property developer Orix. Confusingly, the Orix consortium is also likely to include Hyundai’s container shipping operation, Hyundai Merchant Marine. Other assets are also in the shop window – in total the group is reportedly looking to raise $3.2bn to pay off debt.

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