HMM to take Hanjin’s Algericas terminal

Hyundai Merchant Marine from South Korea has been selected as preferred bidder to buy a terminal in the Spanish port of Algericas from bust compatriot Hanjin Shipping. HMM said it should finalise the deal to take over Total Terminal International Algeciras by late December.

Hanjin Shipping, which sought court protection at the end of August, has been offloading most of its assets in a desperate bid to survive as an intra-Asia operator when it submits its restructuring plan to a court in Seoul next February.

Source: Splash 24/7 (LF)

Source: Splash 24/7