HMM joins THE Alliance's three-loop Asia-Middle East network
HMM has muscled its way into THE Alliance’s Asia-Middle East offering in the newly launched ...
By Mike Wackett
Owners of containerships chartered to troubled South Korean carrier Hyundai Merchant Marine are said to be “watching closely” after the carrier threatened to seek court protection unless time-charter payments were “significantly reduced”.
A letter, dated 1 February and signed by HMM chief executive Paik Hoon Lee, seen by a shipbroker source, says: “It is critical to understand that HMM’s financial difficulties cannot be solved by dealing with its financial liabilities alone. Unless time-charter payments are significantly reduced as well, the company cannot survive.”
It also said: ...
Comment on this article
John Roberts
February 18, 2016 at 5:12 pmVery interesting article. I guess HMM customers will now be looking elsewhere if there is a risk of their cargo being stuck on an arrested ship.
And if you fancy making a few $$$ quickly, start shorting Danaos stock.
Ale Pasetti
February 18, 2016 at 10:54 pmJohn, I’d rather trade the debt than the equity. Thanks.