News / Pan Ocean parent Harim partners with PE firm in bid for HMM

South Korean agri-food business Harim Group, the largest shareholder of shipping company Pan Ocean, has joined the race for HMM.

Pan Ocean is South Korea’s largest dry bulk shipping company, but also operates 11 containerships deployed on intra-Asia routes.

Last week, Woo Oh-hyun, chairman of Samra Midas, parent of HMM compatriot carrier SM Line, was the first to announce interest in South Korea’s flagship box line.

The following day, HMM’s two largest shareholders, Korea Development Bank and Korea Ocean Business Corp, sought bids ...