News / SM Line expected to grow HMM investment when Seoul sells its share

Credit HMM.

Speculation about a possible union of South Korea’s two ocean-going liner operators has grown after SM Merchant Marine (also known as SM Line) extended its stake in HMM, and could increase its share further this year.

On 29 December, SM Line, which the Samra Midas (SM) group formed in 2016 after acquiring the remaining operations of bankrupt Hanjin Shipping, acquired an additional 613,438 shares in HMM for $14m, bringing its holding to over 2.41m shares, or 0.49%.

Another SM company, bulk carrier ...