“State-owned Korea Ocean Business Corporation (KOBC) has, reportedly, signed off on some W6.15trn ($5.4bn) of new funding for the country’s biggest ocean carrier, Hyundai Merchant Marine (HMM) – but much of this cash will be needed to cover continued operations. KOBC, launched in July this year to support South Korea’s ailing shipping industry, has already supported HMM with a $740m sale-leaseback transaction on 10 of its ships, based on the original value of the vessels rather than their actual market value.” To learn more, see the original story at The Loadstar.
Source: The Loadstar (JB)
Source: The Loadstar